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Thomson Reuters to acquire legal AI firm Casetext for $650 mln

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Thomson Reuters said on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal.

A logo of Thomson Reuters is pictured on a truck during preparations for the annual meeting of the World Economic Forum , in Davos, Switzerland January 19, 2020. REUTERS/Denis Balibouse/File Photosaid on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal.

One of Casetext's key products is CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement. California-based Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments.

 

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