Perspective on LexisNexis Acquisition of Lex Machina?
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For perspective on the rumored acquistion, I spoke last night to David Perla, president of Bloomberg BNA Legal. He is not surprised that LexisNexis would want to acquire a company such as Lex Machina.
“This acquisition makes sense for them,” he says. “They’ve generally purchased their innovation and it’s not surprising that they’d want this.”
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Bloomberg has developed legal analytics products of its own, but Perla says they have all been “organically grown.” For example, Bloomberg Law’s Corporate Transactions product includes analytics such as the Draft Analyzer to assist in drafting agreements and Deal Analytics to analyze a database of public and private M&A transactions.
In addition, Bloomberg is developing a judicial analytics tool that will give litigators a view into how specific judges decide cases and manage their case loads.
“It’s a big task to extract all that data and make it workable, especially when it’s all unstructured,” he says.
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“We think analytics is the future,” Perla says. “We’re not suprised that a company that is not known for it would want to get into it.”
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