Rumors had been swirling that Thomson Reuters was about to acquire Casetext, and they proved to be true.
Just before 9 p.m. Eastern time today, TR said it had signed a definitive agreement to acquire Casetext for $650 million cash.
“The proposed transaction will complement Thomson Reuters existing AI roadmap and builds on its recent initiatives, including a commitment to invest more than $100 million annually on AI capabilities, the development of new generative AI experiences across its product suite, as well as a new plugin with Microsoft and Microsoft 365 Copilot for legal professionals,” TR’s announcement said.
The acquisition unites a long-established giant in legal research with a company that has proven to be a feisty upstart since its founding in 2013. As I wrote of Casetext just two weeks ago, as it marked its 10th anniversary, “From the very start, Casetext was an innovator, always pushing the envelope for what a
