LexisNexis Legal & Professional, a leading global provider of information and analytics, announced the acquisition of Parley Pro, a Contract Lifecycle Management (CLM) solution and contract automation software provider, to complement LexisNexis’ Enterprise Legal Management (ELM) platform, CounselLink.
Founded in 2015, Parley Pro enables contract request, drafting, negotiation, signature, and post-signature management via a secure, cloud-based platform. AI-powered and easy to use, Parley Pro offers simultaneous collaboration, context-aware integration, and end-to-end contract process automation. In addition to that, Parley Pro gives corporate legal departments visibility into their entire portfolio of contracts in progress, with predictive and actionable analytics to help inform data-driven business decisions and unite organizations around contracts.
“Parley Pro’s CLM capabilities provide the critical third pillar—in addition to Legal Spend and Matter Management—to strengthen our already robust CounselLink platform,” said Sean Fitzpatrick, CEO, LexisNexis UK and North America. “Together, CounselLink and Parley Pro will deliver greater overall value to ELM customers seeking CLM solutions by enabling more effective negotiation workflows and providing the right contextual insights to inform better decisions and create value for the organization.”
“We’re excited to join the LexisNexis team,” said Olga V. Mack, CEO of Parley Pro. “By seamlessly integrating Parley Pro’s best-in-class contract automation and workflow tools with CounselLink’s market-leading features, innovation and capabilities, customers will benefit from the industry’s all-in-one, premier legal operations platform.”
According to LexisNexis, Parley Pro’s CLM solution is the ideal complement for CounselLink, which today is the market-leading ELM platform, providing robust work, financial and vendor management capabilities. Parley Pro and CounselLink together aim to provide LexisNexis customers with a cohesive CLM experience, delivering valuable insights directly into in-house attorneys’ contracting workflow and significantly reducing the risk to organizations and burden on legal departments by enabling them to draft better contracts faster.
Parley Pro’s current leadership team will continue leading the Parley Pro business and will be supported by and will collaborate closely with the CounselLink and broader LexisNexis Legal and Professional teams.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world.