iManage Acquires Risk/Compliance Co. Elegrity

7th September 2018 artificiallawyer Legal Tech M&A 3

iManage has today announced the acquisition of business process company Elegrity, that works in the risk and compliance management space.

The company, which is around 20 years old, works on areas such as managing conflicts of interest, new business intake and other key risk mitigation processes in law firms.

The idea is to integrate this with iManage’s already rapidly expanding range of applications that it has added to its core doc management capabilities – the most important of which was seen via the merger with legal AI company RAVN.

In short, this is an effort to add risk and compliance checking to the overall iManage workflow and data management offering. And it makes sense, given that these are areas that all lawyers and corporates will have to engage with. So, why not have it all in a one-stop-shop?

The US company said that this will provide:

  • A unified approach, supported with enhanced integration between new business intake, conflicts management, ethical walls and need-to-know security, legal holds, data loss prevention and records management. This can deliver world-class security and risk management at a significantly lower cost and with increased IT agility.
  • Access to advanced R&D from iManage Labs including automation of compliance processes through the use of RAVN AI and improvements to the conflicts and new business intake user experience, leveraging iManage’s award-winning user experience design team.
  • Increased investment in R&D, support, documentation and professional services, leveraging iManage’s global presence and partner channel, to support global firms.
  • Access to over 200 man-years of combined expertise in the risk and compliance space, significantly enhancing iManage’s ability to understand and guide customers through the complex compliance landscape.

Neil Araujo, CEO, iManage, said of the deal: ‘The Elegrity team significantly deepens our ability to drive successful outcomes for customers that are modernizing their risk, security and governance posture.’