UK law firm Allen & Overy is selling a majority stake in its profitable legal tech platform to two private equity investors aiming to expand the business in the US.
The platform, aosphere, will become a stand-alone entity with UK firm Inflexion and US group Endicott Capital combining for a majority strategic holding, the firms said Tuesday. A&O will retain a “significant” minority stake.
Under its new structure, the platform “will continue to invest to strengthen and expand its product,” the firms said, adding: “In particular, aosphere is looking to grow the business in the US and where appropriate ...
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