Thomson Reuters, the global content and technology company, has announced its definitive agreement to acquire California-based Casetext, a provider of legal technology.
The deal, valued at $650 million in cash, will bolster Thomson Reuters’ existing AI roadmap. This move aligns with the company’s commitment to invest over $100 million annually in AI capabilities.
Casetext, founded in 2013, utilizes advanced AI and machine learning to develop efficient solutions for legal professionals. Its key product, CoCounsel, powered by OpenAI’s GPT-4, enables quick document review, legal research, deposition preparation, and contract analysis.
This acquisition supports Thomson Reuters’ goal to revolutionize professional work through generative AI solutions.
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