Hot off the back of the news that Kira Systems will soon be integrated with HighQ, rival Luminance has today (4 July) announced that its software is now fully integrated with the collaboration and data room platform.
The HighQ integration will allow Luminance clients who use HighQ as part of their M&A transaction process to synchronise documents from their HighQ data room with the Luminance system for analysis and intensive review.
“We are excited to announce our collaboration with HighQ as part of our continued mission to make the M&A due diligence process as streamlined as possible for our clients,” said Emily Foges, CEO of Luminance.
Luminance harnesses the latest advances in machine learning technology, developed at the University of Cambridge, to automatically read and understand large volumes of documents and highlight potential risks. The system enables faster and more accurate review, giving lawyers an instant visual insight into the contents of a data room and detects subtle but potentially significant differences between contracts so that key issues are highlighted at the earliest possible stage of a transaction, offering clients a better negotiating position from the outset.
“We are delighted to work with Luminance to add another layer of automated data intelligence to our platform and continue our strategy of integrating with the leading AI solutions that allow our clients to deliver smarter, more efficient legal services.” said Stuart Barr, Chief Product and Strategy Officer at HighQ.
Luminance launched in September 2016 and has customers in 12 countries, having completed more than 120 transactions to date. Its most recent client win was innovative Australian law firm Gilbert + Tobin. It has notched up a raft of Nordic clients including, most recently, Stockholm law firm Cederquist, as well as Uria and Perez-Llorca in Continental Europe.