Wolters Kluwer Legal & Regulatory has acquired UK and France-based Della AI, a provider of AI technology that leverages natural language processing.
The AI technology allows legal professionals to review contracts in multiple languages by simply asking questions.
Following the deal, Della AI will become part of the Legal Software unit of Wolters Kluwer Legal & Regulatory. Wolters Kluwer expects the investment to deliver a return on invested capital above its weighted cost of capital (8%) within three-to-five years. It also expects. The transaction to have an immaterial impact on adjusted earnings.
Wolters Kluwer Legal & Regulatory offers a variety of LegalTech solutions including Legisway, an all-in-one software for corporate legal departments. Another of its products is Kleos, a cloud-based legal management software for law firms.
Founded in 2018, Della AI is a LegalTech company that was created to help legal teams with their legal contract review processes for due diligence, compliance, lease analysis and more.
Speaking on the acquisition, Wolters Kluwer Legal & Regulatory Legal Software CEO Giulietta Lemmi said, “By integrating the expertise and know-how of Della AI into Wolters Kluwer Legal & Regulatory, we are further enhancing the value we deliver to our customers, by investing in the continuous development of this key technology and the people behind it.
“Today, our customers already acknowledge the value of Legisway in all their legal activities. Together with Della AI, we will further enhance our customers’ experience and secure a leading position for Wolters Kluwer in the corporate legal market.”
In other RegTech news, NetGuardians, an enterprise risk platform to combat financial fraud, was selected by BANK OF AFRICA to safeguard its assets in Morocco.
As part of the partnership, BANK OF AFRICA plans to use NetGuardians’ fraud prevention software to protect its assets and branches in Morocco against internal and payment fraud.
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