Legal Tech Industry on the Cusp of a Long-Expected Consolidation

The stage is set for a wave of legal tech consolidation long anticipated by industry founders, users, and investors.

The factors driving it are straightforward: Legal tech has more possible acquirers than ever, thanks to well-funded super startups with the desire to buy other companies. A jumble of small startups are clustered on the lower rungs of the legal tech ladder, many with little to distinguish themselves from others. And some smaller companies—and their investors—are looking to cash out.

“People are talking to me more about buying and selling than ever before,” said Joe Borstein, a partner at Baretz+Brunelle who ...