Here is the formal acquisition statement from Thomson Reuters on the acquisition of Pilgrim Systems by Elite. The price was not mentioned so we'll leave it to our readers' fevered imaginations to fill in the £pound signs. There was also no comment made by Pilgrim founder Jim Cummings, who is believed to be at home so he can spend more time with his money…

Elite, part of Thomson Reuters, has announced its acquisition of Pilgrim Systems, a specialist in financial and practice management systems for mid-market law firms for more than 30 years. Acquiring Pilgrim and its LawSoft solution is a key component in Elite’s product development strategy and overall growth strategy to expand internationally.

Pilgrim’s current product, LawSoft, has been very successful since its launch in 1996 with a large client base in the UK. Elite will leverage this success and the strength of Pilgrim’s software development efforts to enhance its business management solutions targeted for mid-market firms in the UK and Asia Pacific. The addition of Pilgrim’s assets builds on Elite’s earlier acquisition of FWBS and its robust core matter management capabilities.

“Pilgrim is a strategic fit within our plan to provide a mid-market back-office solution for law firms in the UK and Asia Pacific region – areas where we do not currently have a solution,” said Cary Burch, chief operations officer for Elite. “This marks the fifth acquisition for Elite this year, all of which have been integral to our vision of creating a compelling, integrated mid-market offering utilizing the best technologies. The culmination of these acquisitions will broaden our capabilities and expand our offerings for our global clients.”

Founded in 1978, Pilgrim has steadfastly specialized in the development, supply, implementation and support of law firm business software. LawSoft was one of the earliest solutions to be built from the ground up to use Microsoft SQL Server as its underlying database engine. LawSoft was also the first UK law firm solution to be built on an integrated workflow engine to support complete process management. Pilgrim will be operated as a business unit within Elite and will maintain its Edinburgh office location.

“Joining forces with Elite will bring a powerful solution to the international mid-market law firm segment, which has been previously underserved,” said Colin Kennedy, chief operating officer, Pilgrim Systems, who will be transitioning to Elite. “We are excited about this new chapter in our growth and the opportunity to significantly expand our development resources.”