Litera Acquires Prosperoware to Enhance Team Collaboration
Litera, a global AI-powered workflow management solution provider announced the acquisition of Prosperoware to enhance team collaboration, security and increase efficiency for legal professionals, which further enhances client relationships, develop businesses and deliver matters in the most effective and innovative way possible.
Prosperoware was founded in 2009, and is one of the most integrated software programs in the legal and professional services industry that allows quick data location, provide data protection, prevent data loss, improve internal and external collaboration, mitigate risk, and reduce costs.
Avaneesh Marwaha, the CEO of Litera, said that the acquisition would “help Litera execute its vision to transform the way legal teams collaborate. The addition of Litera’s tools and other core applications into Prosperoware’s platform will automate the new matter, budget, and deal creation process and provide legal teams with a single pane of glass to view and manage their work. Further, this acquisition continues our commitment to partner with law firms to build connections between Litera tools and other core tools lawyers depend on to get their work done, including Microsoft Teams, iManage, NetDocuments, Windows File Shares, and other systems.”
“We are thrilled to join the Litera family; the breadth and utility of their solutions are amazing and complement our vision to help teams collaborate more efficiently and securely,” said Keith Lipman, the CEO and co-Founder of Prosperoware. “The combined solutions will provide firms with everything they need – in the one place – to work more efficiently, especially as legal teams become increasingly remote or hybrid,” he added.
Douglas Caddell, Global Chief Information Officer, Mayer Brown LLP, commented, “The combination of Litera and Prosperoware is exciting since the blending of their technology offers a better experience across the firm’s global user community. Both are strategic vendors for Mayer Brown.” Furthermore, through this acquisition, third-party ISVs are brought into Litera's vision for its platform which includes Microsoft M365, time and billing and document management solutions.
Keith Lipman and Sheetal Jain will both join Litera. Other terms of agreement has not been revealed yet. Holland & Knight LLP served as Litera's legal counsel while AGC Partners served as financial advisor and Blank Rome LLP served as a legal counsel to Prosperoware.
Source: Litera
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