July 5, 2023
In a significant development for the legal industry, Thomson Reuters, a renowned global provider of legal solutions, has acquired Casetext, an AI-powered legal research platform based in California. This acquisition marks a step forward in the integration of technology into the legal field.
Casetext's AI technology analyzes vast amounts of legal information, including case law, statutes and regulations, providing users with comprehensive insights and relevant precedents. This AI-powered platform streamlines legal research, saving valuable time and resources for legal professionals.
The collaboration between Thomson Reuters and Casetext also paves the way for increased access to legal knowledge. Casetext's platform employs a crowdsourcing model, allowing legal practitioners to contribute annotations and insights to legal texts. This collaborative approach fosters knowledge-sharing among legal professionals worldwide, creating a vast network of collective expertise.
Thomson Reuters' acquisition of Casetext represents a milestone in the evolution of legal technology. By harnessing the power of AI, legal research becomes more efficient and accurate, benefiting legal professionals and their clients. Thomson Reuters’ acquisition of Casetext is subject to regulatory approvals and customary closing conditions. The deal is expected to close in the latter half of 2023.