London-based BigHand Ltd. has acquired Nevada's Iridium Technology from Polaris Growth Fund.
BigHand, a leading legal technology software platform, announced the merger but did not disclose negotiation terms.
“We are thrilled to support the addition of Iridium onto the BigHand platform,” Josh Kaufman, senior managing director at LA-based Levine Leichtman Capital Partners (LLCP), said in a news release. “This strategic acquisition significantly expands BigHand’s presence in North America and further broadens its suite of products, specifically around providing law firms with data and analytics software designed to improve efficiency and profitability.”
BigHand, which is a portfolio company of LLCP, offers a software platform designed to “improve the workflow, productivity and profitability at law firms,” according to the release. Its product offerings include workflow management, document creation, business intelligence and matter pricing solutions that serve 3,500 organizations and 810,000 users worldwide. BigHand is headquartered in London and has offices in the U.S., Canada, the Netherlands and Australia.
Iridium is a legal business intelligence and analytics software provider that markets to law firms, according to the release. The company creates data-management tools that allow firms to “enhance their productivity and profitability.” Iridium supports roughly 300 clients, including 50% of the Am Law 200-ranked firms, the release said.
The merger took effect immediately, the release said. The organization will have a global workforce of more than 350 employees.
“Law firms are under continuous pressure to improve their efficiency while simultaneously growing their profitability,” BigHand CEO Sam Toulson said in the release. “Our goal has always been to offer our clients the best solutions and support, so we strategically and selectively seek to join forces with acquisition partners that align to our goals and those of our customers."
The addition of Iridium's platform will benefit law-firm clients in numerous ways, which makes it an ideal acquisition.
"We look to add significant value for our customers, and that’s what makes this acquisition very exciting," Toulson said. "The addition of Iridium gives our clients an opportunity to access a vast amount of data that will enable their firms to move from the practice of law to the business of law.”