Legal Software Startup Clio to Acquire VLex for $1 Billion (1)

Canadian software company Themis Solutions Inc. struck a deal to buy legal data and research company vLex LLC for $1 billion in cash and shares.

Themis, which is better known by its operating name Clio, helps lawyers manage their practices by automating processes such as client intake, accounting and document management. The acquisition will give it control of vLex’s artificial intelligence platform, known as Vincent, which is based on a database of legal documents, according to a statement Monday that announced the transaction.

That database of primary case law is what allows Vincent to produce citations that are free ...