Updated: Litera acquires Doxly in bid to corner the US/UK transaction management market
Update: see below for just some of the feedback on this story on LinkedIn and Twitter.
Following a run of recent high profile acquisitions, Litera Microsystems has acquired US transaction management platform Doxly. It follows the acquisition in July of Workshare, as part of which Litera now owns UK transaction management platform Transact: this latest acquisition brings together two of the leading solutions from the US and UK markets.
Doxly provides tools for managing legal transactions primarily for the Am Law 200 law firm market, offering a collaborative environment for users to coordinate closing checklists and signature management, and execute copies of their agreements.
Avaneesh Marwaha, Litera CEO said, “As an organisation in which firms around the world rely on for document drafting, we have a deep knowledge of the lawyer’s workflow and are looking to extend the key attributes of our products to the transaction space. We understand our customers’ pain points and see a real opportunity to leverage technology and help simplify the complex area of transaction management. By bringing together two companies with strong expertise in the US, UK, and EMEA markets, the acquisition of Doxly helps further strengthen our offering allowing us to become the leading transaction management software provider.”
Haley Altman (pictured), CEO of Doxly added, “We are excited to have the backing of a company that shares our same core beliefs around providing an end-to-end solution to solve our customers problems. Litera’s products are in use daily in firms across the world, and we believe the same opportunity exists for our software. We believe that access to Litera’s world-class support and service will be great news for our customers and we’re very excited to be joining the team.”
These acquisitions are being driven by Litera’s private equity owner HG (formerly HG Capital), continuing the work of former owner K1 Investment Management, which in 2016 began piecing together leading companies from across the drafting experience to provide users with a single desktop experience. Those acquisitions include Microsystems, XRef, Litera, The Sacker Group and now Workshare.
We are LOVING the feedback on this deal from the market – there’s a lot of love for Altman.