HotDocs, which can trace its roots back to 1993 and helped pioneer the field of document automation, has been sold to Mitratech, the technology conglomerate that covers legal, risk, and HR. HotDocs was sold by its current owner, CARET.
Keri Gohman, CARET CEO, commented: ‘We are proud to have established HotDocs as the category leader of simplifying complex document creation for large enterprises. Mitratech, with a similar global customer footprint of major law firms and corporations, will be an ideal home for HotDocs to achieve its next phase of growth.’
However, CARET will retain the exclusive legal practice management integration with HotDocs through its comprehensive cloud-based CARET Legal platform.
This strategic sale enables CARET to double down on serving the evolving needs of midsize law firms with modern and user-friendly solutions designed to enhance the business of law. The company will now accelerate investment in AI capabilities to transform firm efficiency, they said.
CARET serves mostly mid-market law firms through its portfolio of practice management platforms including AbacusLaw, Amicus Attorney, Amicus Cloud, and CARET Legal.
Is this a big deal? Well, it’s perhaps more of a footnote in legal tech history. But, what it does perhaps say is that a well-established product never really fades away, it just keeps changing owners.