{"id":39385,"date":"2023-06-28T12:10:39","date_gmt":"2023-06-28T16:10:39","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=39385"},"modified":"2023-07-04T09:12:40","modified_gmt":"2023-07-04T13:12:40","slug":"thomson-reuters-acquires-ai-powered-casetext","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/thomson-reuters-acquires-ai-powered-casetext\/","title":{"rendered":"Thomson Reuters acquires AI-powered Casetext"},"content":{"rendered":"<p data-ar-index=\"1\">Thomson Reuters has agreed to acquire Casetext, an AI-powered legal tech startup, for $650 million in cash.<\/p>\n<p data-ar-index=\"2\">Casetext, founded in 2013 and has raised over $64 million in funding from investors such as Union Square Ventures and Canvas Ventures. It has AI-powered products, such as CoCounsel, which helps lawyers with legal research and document review, and is expected to complement Thomson Reuters&#8217; existing legal offerings and help the company expand its reach into new markets. The company has a customer base of over 10,000 law firms and corporate legal departments.<\/p>\n<p data-ar-index=\"3\">&#8220;The acquisition of Casetext is another step in our &#8216;build, partner and buy&#8217; strategy to bring generative AI solutions to our customers,&#8221; said Steve Hasker, CEO of Thomson Reuters. &#8220;We believe that Casetext will accelerate and expand our market potential for these offerings \u2014 revolutionizing the way professionals work, and the work they do.&#8221;<\/p>\n<p data-ar-index=\"4\">Casetext CEO Jake Heller said that the acquisition would allow the company to &#8220;advance our mission and the field of generative AI solutions exponentially, not only for lawyers but across professions.&#8221;<\/p>\n<p data-ar-index=\"5\">The deal is expected to close in the second half of 2023.<\/p>\n<p data-ar-index=\"6\">The sources for this piece include an article in <a href=\"https:\/\/www.axios.com\/2023\/06\/27\/thomson-reuters-650-million-for-legal-ai-assistant-casetext\" target=\"_blank\" rel=\"noopener\">Axios<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thomson Reuters has agreed to acquire Casetext, an AI-powered legal tech startup, for $650 million in cash. Casetext, founded in 2013 and has raised over $64 million in funding from investors such as Union Square Ventures and Canvas Ventures. It has AI-powered products, such as CoCounsel, which helps lawyers with legal research and document review, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57],"tags":[525],"class_list":["post-39385","post","type-post","status-publish","format-standard","hentry","category-companies","tag-ai"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/39385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=39385"}],"version-history":[{"count":2,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/39385\/revisions"}],"predecessor-version":[{"id":39387,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/39385\/revisions\/39387"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=39385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=39385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=39385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}