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Tech provider Litera to acquire AI specialist Kira

Legal-workflow technology provider Litera is to acquire the Toronto-based machine-learning specialist Kira Systems.

The deal, announced on 10 August, will be Litera’s 12th legal-technology acquisition in recent years. The business says it now has 15,000 law-firm and corporate customers.

"Litera is the perfect partner for Kira," Noah Waisberg, Kira chief executive and co-founder, said in a statement.

"They have a deep understanding of the legal market globally and share our vision that technology can transform the contract review process."

The transaction will "ensure Kira achieves ubiquity in the due- diligence review process, as well as provide a welcome home for our customers and employees," he said.

Meanwhile, machine-learning specialist Luminance has announced that it is putting together a commercial and technical package to allow Kira users to seamlessly migrate their work and configurations.

Exit from law-firm market

The Kira senior management team is leaving to start a new business in other markets, and will no longer operate in the law-firm market, Luminance has said.  

Chief executive Eleanor Weaver commented: “Luminance is fully committed to the law-firm market and will continue its rapid growth and technology development in that area. 

“Those customers of Kira who wish to continue with the vision of AI-assisted legal practice will find the Luminance community welcoming and supportive.”  

In 2020, Luminance saw its customer base increase by 40%, and it is now used by all of the ‘Big Four’ professional services firms, as well as world-leading law firms such as Dentons, White & Case and Holland & Knight.

Its artificial intelligence document-review platform for the legal profession has over 300 customers in more than 50 countries, and the business has offices in London, Cambridge, New York and Singapore.