LexisNexis Legal & Professional announced that it has acquired Closd, a provider of legal transaction management in Europe, founded in 2018. Terms of the transaction were not disclosed.
Closd operates a legal transaction management SaaS platform that aims to make the management of complex legal projects simpler, safer and faster. Its end-to-end legal project management solution includes automated workflow management, secure document sharing, data rooms, electronic closing, transaction bible generation and document archiving. According to Closd, the company serves more than 42,000 users consisting of transactional lawyers, in-house legal counsels and dealmakers in Europe and beyond.
Closd will become part of LexisNexis Legal & Professional, an established global provider of legal, regulatory and business information and analytics, that aims to help customers increase their productivity, improve decision-making and achieve better outcomes. The acquisition of Closd is part of a global strategy to develop an ecosystem of solutions to serve legal professionals with analytics, legal document management and decision support tools.
Philippe Carillon, President of LexisNexis Continental Europe, Middle East and Africa, said: “Closd has quickly become a top-tier provider of legal transaction management. Its technological edge in legal workflow management, data rooms and electronic signatures will be combined with our own strengths in advanced technologies and content to deliver products that enable our customers to work in more effective and efficient ways. This acquisition is in line with our organic growth driven strategy, supported by acquisitions of analytics and workflow automation solutions that are natural additions to our existing business.”
Closd co-founder and CEO, Grégoire Debit, said: “We are proud to join LexisNexis and to contribute to the group’s cutting-edge innovation strategy. Synergies between our entities and products are clear. This alliance with an established global provider of legal information and technology will boost our growth and the development of our solutions, and help our internationalization strategy, in a booming sector. We truly look forward to building the future of work for legal professionals with the LexisNexis team.”
