Thomson Reuters acquires fast growing legal process outsourcing firm Pangea3

Renowned global provider of intelligent information for business and professionals, Thomson Reuters Friday acquired fast growing legal process outsourcing firm Pangea3. Pangea3’s legal outsourcing process serves corporate legal departments and law firms worldwide. However, the terms of the deal were not disclosed.

For Thompson Reuters, the acquisition extends its strategy to develop world-class information, software and workflow solutions for legal professionals around the world. Pangea3 is headquartered in New York and Mumbai, India, and has 650 employees at its major delivery centers in Mumbai and New Delhi. Pangea3's client base includes Am Law 250 law firms and some of the world's largest financial services, pharmaceutical, healthcare, food and beverage, technology and consumer goods companies.

The firm offers a variety of services organized into four distinct lines of business including legal document review; corporate transactions; intellectual property; and risk management and compliance.

Thomson Reuters’ president and chief executive officer, Legal, Peter Warwick said legal process outsourcing adds a vital strategic complement to the Thomson Reuters portfolio of specialized information and workflow solutions, and will be key to helping law firms and corporate legal departments be more responsive and cost-effective.

Pangea3 is true to Thompson’s mission to help the legal system perform better, every day, worldwide; Reuters will now bring to the legal marketplace a responsive, high-quality, transformative resource for a broad range of legal support work, said Warwick. This is particularly important as law firms and general counsel adjusts to the realities of the 'new normal,' where efficiency, quality and responsiveness are paramount, he noted.

However, Tony Abena, president and general manager, Global Legal Solutions commented that the addition of Pangea3 to the Thomson Reuters family creates a solid foundation in the global solutions suite that is a perfect fit in Reuters’ long-term growth strategy.  With overlays in key segments including Reuters’ Corporate General Counsel, IP Solutions, Governance, Risk and Compliance and Law Firm businesses, the firm is aligning itself more closely into general counsel and law firm workflows, he added.

On their part though, Pangea3 co-CEOs David Perla and Sanjay Kamlani noted that joining forces with Thomson Reuters will further accelerate and expand Pangea3’s ability to provide impactful and transformative solutions to its corporate and law firm clients. Thomson Reuters is the perfect partner for Pangea3's clients and team-members to continue to grow and solve the increasingly complex and expensive challenges facing legal professionals around the globe, said the two.

19 Nov 2010.