LexisNexis Legal & Professional stated at present that it has entered into an settlement to accumulate Henchman, a Belgium-based contract drafting authorized expertise firm.
LexisNexis stated it’s buying the corporate for its doc administration system that allow quicker doc drafting. It say its expertise enriches a regulation agency’s inner work product, making a layer of intelligence on contract databases to hurry up drafting.
“By buying Henchman, LexisNexis will ship customized generative AI options to prospects all over the world,” stated Jeffrey S. Pfeifer, chief product officer for LexisNexis Authorized and Skilled. “The acquisition will mix Henchman’s doc administration system information enrichment with trusted LexisNexis drafting steering content material to ship a customized generative AI expertise.”
Pfeifer stated that LexisNexis has instant plans to make use of the expertise together with its personal retrieval augmented technology expertise that underlies its Lexis+ AI authorized analysis platform and its Lexis Create, the Microsoft 365 add-in that permits integration of generative AI drafting in Microsoft Phrase, Outlook, Groups and Copilot.
“The union of LexisNexis and Henchman is an extension of our drafting imaginative and prescient to proactively floor worthwhile and strategic insights for purchasers – delivering a middle of information to authorized groups,” Pfeifer stated. “We consider the mix of our groups and expertise will enable prospects to make knowledgeable choices quicker, generate higher work product, and drive financial worth for his or her organizations.
Henchman interacts with the DMS of a regulation agency or company, indexing the group’s contract paperwork on the clause stage, making the information accessible for contract insights and drafting. The expertise works with authorized‐particular DMS suppliers and common enterprise content material administration methods and is language agnostic, it says.
“We see this union with LexisNexis as an extension of our drafting imaginative and prescient to proactively floor worthwhile and strategic insights for purchasers – delivering a middle of information to authorized groups,” stated Henchman cofounder Gilles Mattelin. “We consider the mix of our groups and tech will empower prospects to make knowledgeable choices quicker, generate excellent work, and drive financial worth for his or her organizations.”
Based in 2020, Henchman says it has greater than 170 authorized and company prospects globally.
It was a finalist on this 12 months’s Startup Alley at ABA Techshow, which I oversee.
The deal is predicted to shut early within the second half of 2024, LexisNexis stated.
