US eDiscovery and information and facts governance system IPRO has acquired Amsterdam-primarily based automated lawful hold company provider ZyLAB as it seeks to grow its footprint in Europe.
The deal provides IPRO obtain to ZyLAB’s AI-pushed, genuine-time legal maintain know-how, whose absolutely automatic notifications and custodian alerts aid prevent accidental info reduction or evidence spoliation. In addition to authorized keep automation, the acquisition also offers IPRO users with ZyLAB’s advanced analytics and cloud abilities.
Dean Brown, CEO of IPRO, stated: “Joining forces with the amazing crew at ZyLAB permits us to present modern products capabilities and broaden our geographic footprint in Europe and the British isles. With this acquisition, we are superior positioned to deliver upstream alternatives to support our customers and partners manage the threats and fees related with the ongoing expansion of their unstructured details and legal discovery expenditures.”
Chicago-centered investment organization ParkerGale Capital, which acquired IPRO in 2017, provided the funds to fund the acquisition. DLA Piper recommended ZyLAB on the deal, when Kirkland & Ellis and De Brauw suggested IPRO. ZyLAB will go on to function underneath its own manufacturer title in Europe, with key item enhancement also remaining in the Netherlands.
Dennis van der Veeke, ZyLAB’s CEO, said: “We selected IPRO, immediately after thinking about all significant gamers on the sector, since of its determination to innovation, security and consumer achievements.”
The acquisition is IPRO’s 3rd main offer in modern yrs, pursuing its takeovers of data governance platform NetGovern and demo and deposition management system inData.
IPRO’s acquisition of ZyLAB will come at a time of greater M&A and normal funding activity for legaltech providers. Earlier this month, US legaltech business Litera acquired British isles-dependent Objective Supervisor, a strategic organizing and efficiency software package provider for regulation firms.
Previous month, US deal management get started-up Lexion lifted $11m to support finance growth and develop its AI-driven agreement system, while US cloud-based company administration software supplier Intapp submitted for a possible preliminary community providing. That followed Canadian legaltech provider Clio’s $110m Series E funding round in April that pushed its valuation to $1.6bn – earning it the world’s 1st lawful practice administration unicorn.