There can be only one: Intapp consolidates risk sector with Frayman acquisition
Intapp this morning announced the acquisition of The Frayman Group (TFG), a company offering risk management software for law firms. With this move, Intapp further extends its position as the leading provider of risk management software for the legal industry, offering broadly adopted products that streamline new business intake, conflicts management, information security and professional compliance.
“We are very excited about this acquisition, which is a major milestone for law firm risk management software. Intapp customers will benefit from an even stronger risk management offering as we integrate TFG technology and staff and continue to make significant investments to advance our products,” said John Hall, CEO, Intapp. “At Intapp, our mission is to cultivate a position of trusted partner and advisor to our more than 500 customers, offering innovative software and services that enable them to thrive in an increasingly competitive business environment.”
“With these two organizations coming together, there’s now no other vendor in the market today with a more skilled team, greater insight into legal risk management, a more ambitious product roadmap, or ability to execute,” said Yuri Frayman, Founder, President & CEO of The Frayman Group. “As I turn to pursue opportunities outside of the legal industry, I see a bright future ahead, both for my customers and the industry as a whole, under Intapp’s leadership.”
TFG – An Intapp Company
TFG will continue to operate as a subsidiary of Intapp. In that capacity, it will deliver support to organizations that have licensed TFG products for managing new business intake and workflow (Compliguard Flow), client conflicts (Compliguard Analyze), and ethical walls (Compliguard Protect).
An OpenText Development and Services Partner, TFG will also continue to support organizations with valid support contracts for LegalKEY, an OpenText software product launched in 1994, used for conflicts and records management. As part of the transaction, Intapp takes ownership of all TFG intellectual property, including patents and software assets, and will incorporate elements of this technology into Intapp business intake, workflow, conflicts management and other products.
• Marlin and Associates advised the seller in this transaction.
COMMENT: We are reminded of the line from The Highlander movie/TV series: “There can be only one.” The competition between Frayman and Intapp has in the past been fierce, if not bitter on some occasions, however along with competing with each other on like-for-like functionality, both companies have also had to keep pace with the ever-more complex nature of law firm risk management. For users this is a win-win deal, as now the companies can focus on product enhancement rather than trying to achieve a competitive advantage over each other.