Twitter is a-buzz today with the announcement that Thomson Reuters is acquiring innovation darling of UK law, Practical Law Company.
According to the Thomson Reuters press release (Jan. 3, 2013):
Practical Law Company has more than 750 employees, with principal operations in London and New York, and will be part of the Legal business of Thomson Reuters. The acquisition is subject to regulatory approval and customary closing conditions, and is expected to close in the first quarter of 2013. Terms of the deal were not disclosed.
PLC has been making an impact over the last couple of years in North America with its unique workflow software tools. This acquisition was rumoured over two years ago according to Gary Rodrigues in a Slaw post from December 2010.
Hat tip to James Mullan via Twitter.