
And here’s one last story to end the day on. This time another M&A deal. OPEXUS, a provider of government process management software, and Casepoint, a data discovery company, have merged. Plus, there has been a majority investment from Thoma Bravo, the tech investment group, into Casepoint. It’s yet another legal tech M&A move, albeit a bit of a fringe one.
As seen in AL, we had two deals last week alone, and some others earlier this month. It’s becoming a habit.
Under the deal, Casepoint shareholders and OPEXUS’s existing investor Gemspring Capital will both retain minority positions in the combined company. As to how to describe this, the companies are calling it a merger rather than an acquisition, so we’ll stick with that for now.
The companies said that the ‘strategic merger and Thoma Bravo’s investment will establish a more comprehensive and innovative process management and discovery platform for government and commercial customers’.
The combined company will be led by CEO Howard Langsam, and Casepoint’s CTO Vishal Rajpara will serve on the executive leadership team. It will be headquartered in Washington DC.
Langsam concluded: ‘There is a growing need for high-quality data management in the public sector, with government agencies increasingly seeking to be as efficient, transparent, and accountable as possible.’
‘The addition of Casepoint’s data discovery technology and Thoma Bravo’s impressive software and operational expertise will help us meet this demand and accelerate our expansion in the GovTech market, as well as expand our coverage of enterprise customers.’
A last word: although it’s true there have been several legal tech M&A deals recently, none of them are what you’d call ‘market-changing‘, at least across the broad swathe of the legal tech ecosystem most large law firms swim within. On a market niche level, they no doubt are very significant deals, but this isn’t like one of the Big Two buying up one of the more famous new genAI companies – a move that would really shake things up.
But, it’s early days. Let’s see where this all goes.