In a significant move that underscores the dynamic shifts within the legal industry, e-discovery and legal services giant Consilio has announced its intent to acquire two major U.K. entities – Lawyers On Demand (LOD), a staffing and advisory firm, and SYKE, a prominent legal tech consultancy. While financial terms of the deal remain confidential, the implications for the global legal landscape are palpable.
The acquisition is expected to amplify Consilio’s footprint in the U.K., but its ambitions stretch far beyond. The integration of LOD and SYKE will see Consilio’s Enterprise Legal Services (ELS) expanding its influence across Europe, the Middle East, Africa, Asia, and Australia. This is detailed in an official company statement which also sheds light on the pressing challenges faced by legal teams, ranging from escalating attrition rates and financial constraints to the evolving salary dynamics within the legal sector.
Andy Macdonald, CEO of Consilio, emphasized the value addition from this acquisition, particularly referencing LOD’s and SYKE’s prowess in flexible legal talent and tech consulting. The goal? To forge more robust, scalable solutions for clients in an increasingly complex legal environment. Meanwhile, Robb Hern, Consilio’s SVP of Enterprise Legal Services, highlighted the synergy between the companies in terms of shared values, experience, and corporate ethos. He envisions a bolstered global service delivery model, propelled by the unique expertise of LOD and SYKE.
The excitement seems mutual. Simon Harper, the brain behind LOD, voiced his enthusiasm about the shared vision and what this collective might offer global legal teams. Established in 2007, LOD boasts a robust community of 4,500+ legal professionals spread across 25 countries. It’s worth noting that LOD initiated its collaboration with SYKE only in 2021 and made its foray into the U.S. by launching an office in New York in September 2022.
This acquisition dovetails with Consilio’s pattern of aggressive growth and M&A activities in the recent past. Among its notable strides, the company enhanced its e-discovery platform Sightline and forged a promising partnership with data management behemoth Onna. The acquisition spree was evident in its purchase of Legility in 2021, which itself had acquired players like Inventus and iControlESI. Not to mention its merger with e-discovery provider Xact Data Discovery and the subsequent acquisition of Special Counsel’s consulting and e-discovery businesses.
In light of these developments, one thing is certain: Consilio’s appetite for growth and innovation shows no signs of waning. As CEO Macdonald aptly puts it, the real challenge lies in identifying acquisitions that resonate with the company’s vision and ethos.