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LexisNexis Legal & Professional announced on Monday its acquisition of Belgium-based contract drafting platform Henchman. This move will integrate LexisNexis's advanced artificial intelligence capabilities with Henchman's innovative software, designed to streamline the contract drafting process by leveraging a firm's document management system for more accessible insights.

LexisNexis to Acquire Henchman : Integration and AI Enhancement

The integration of LexisNexis's AI with Henchman's platform is poised to revolutionize how law firms and corporations manage contract drafting. Henchman's software, which intakes and organizes internal documents, will now benefit from LexisNexis's powerful AI, enhancing searchability and drafting efficiency.

"We're continuously engaging with customers to determine where AI can deliver the most value," LexisNexis CEO Mike Walsh said. "Now, we'll be able to address one of our legal customers' top requests — to have searchable internal firm data, combined with our current drafting and AI offerings."

LexisNexis to Acquire Henchman : Acquisition Details and Strategic Goals

LexisNexis, the parent company of Law360, did not disclose the acquisition price but expects to finalize the deal early in the second half of 2024. This marks LexisNexis' second acquisition of the year, following the purchase of French legal practice management provider Jarvis Legal at the start of 2024.

Henchman, founded in 2020, primarily serves law firms with its contracting platform, which contrasts with other document drafting companies that cater more to in-house legal teams. The company has a strong presence in the U.S. and Europe, boasting 170 legal and corporate customers. In 2023, Henchman raised $7 million in a Series A funding round led by Adjacent VC and Acton Capital.

"We see this union with LexisNexis as an extension of our drafting vision to proactively surface valuable and strategic insights for customers," said Gilles Mattelin, co-founder of Henchman. "We believe the combination of our teams and tech will empower customers to make informed decisions faster, generate outstanding work, and drive economic value for their organizations."

LexisNexis's Acquisition Strategy

The acquisition of Henchman aligns with LexisNexis's strategy to expand its offerings through targeted acquisitions. In the past two years, LexisNexis has steadily acquired companies, including the intellectual property intelligence company IPlytics GmbH in 2022 and the French legal risk assessment platform Case Law Analytics in 2023. These acquisitions complement LexisNexis's growing suite of AI-driven legal solutions, such as the generative chatbot Lexis+ AI, launched in October 2023 to provide legal citations and query responses.

The integration of Henchman into LexisNexis's portfolio underscores the company's commitment to enhancing legal technology and providing innovative solutions that address the evolving needs of law firms and corporate legal departments.