Thomson Reuters officially confirmed its acquisition of legal research company Casetext for $650 million in cash. The finalization of the transaction was announced last Thursday, following an agreement
disclosed in June, subject to regulatory approval. The acquisition is believed to support Thomson Reuters’ strategy to extend generative AI solutions to its customers, as pointed out in the official
press release.
CEO of Thomson Reuters, Steve Hasker, expressed enthusiasm for the acquisition by stating, “Our company has a successful track record of fueling growth and innovation through acquired businesses, partnerships, and organic investments. We are thrilled to welcome the Casetext team to the Thomson Reuters family.”
A noteworthy detail to consider, as announced alongside the confirmation of the deal closure, is Thomson Reuters’ collaboration with Casetext to develop a legal drafting solution that incorporates Westlaw, Practical Law, and Document Intelligence.
More details of the acquisition can be found in the full article
here.