LexisNexis Acquires Legal Analytics Provider Lex Machina
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Lex Machina will gain access to LexisNexis content, allowing the firm to expand its data analytics products into new practice areas.
Venerable legal research provider LexisNexis has acquired data analytics company Lex Machina in a move to add technologies to allow users to better understand the legal landscape and their challenges, the company announced on Nov. 23.
Previously focused on IP law, the acquisition will provide Lex Machina with the resources necessary to expand its analytics algorithm to other practice areas. The acquisition also paves the way for LexisNexis to make those tools available to its base of research users, company officials said.
While the financials of the deal were not disclosed, Lex Machina CEO Josh Becker told Legaltech News that the Silicon Valley-based company will continue to exist as a subsidiary of LexisNexis, allowing it to maintain its culture and continue to develop the product with the support of the larger organization. Becker said that through the deal Lex Machina will gain access to Lexis’ massive data library allowing it to expand its analytics footprint past intellectual property and into a number of new practice areas.
“This is recognition of the importance of analytics in law…and a validation that analytics are here to stay,” Becker said. “The first piece for us is to just get access to documents, and since our analytics are already tuned for legal documents we’re confident that our algorithmic magic can produce some great use cases. After that there’s lots of other really cool and exciting things we can do, including offering analytics via Lexis’ products, but for now we’re focused on expanding practice areas.”
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