Latest News

More rumours – this time MDA and ALM

Another day and another set of rumours about takeovers and deals. First up its MDA (MacDonald Detwiller & Associates) which is best known in the UK legal market for its operations in the NLIS search, HIPs and property sectors. According to brokers Scotia Capital, there are reports that the company is about to sell of its ISG (Information Systems Group) for approx US$1 billion. This division operates in the defence and aerospace arenas, so likely bidders are Boeing, Lockheed and Raytheon. So, great for MDA and with such a large stash of cash, this can only strengthen their potential in the property market.

The next set of rumours relates to American Lawyer Media, which went up for sale earlier this year. According to the latest reports, at least four private equity firms are in the final round of bidding for the publisher of The American Lawyer, with a deal expected to exceed US$700 million. These include Avista Capital Partners and Elevation Partners, the media-focused buyout firm founded by U2 lead singer Bono. Other possible suitors are Investcorp and Incisive Media (best known in the UK legal world as the owners of Legal Week) which was acquired by the VC group Apax Partners last year. An announcement is expected over the next month or so but there is no truth that the keynote at next year's Legal Tech New York will be a short live set by U2.