Now in Legal Rebels:
Posted Nov 19, 2010 12:07 pm CST
Thomson Reuters, the owner of West Publishing and BarBri, has a new strategic plan, and it apparently does not include the bar prep business.
Students taking the BarBri course got an e-mail yesterday evening informing them that BarBri’s parent company is exploring the possible sale of the business, Above the Law reports. The e-mail was sent the same day that news broke of Thomson Reuters’ acquisition of Indian legal outsourcing company Pangea3.
The e-mail assures students that the decision to sell BarBri is not related to its performance. “Our parent company believes, however, that bar preparation no longer fits its long-term strategic vision, which is to provide intelligent information and workflow solutions to professionals,” the e-mail says.
The strategic vision includes the acquisition of Pangea3, apparently Thomson Reuters’ first move into the legal process outsourcing business. The company provides legal information and consulting services to law firms. Pangea 3 has more than 650 employees and annual revenue of more than $25 million.
Above the Law isn’t pleased with the development. “Thomson evidently thinks there is more money to be had from Indian lawyers doing American legal work than training American lawyers to do American legal work,” the blog says. “That can’t be good. That simply cannot be a good sign.”
LawSchool.com: “West to Seek Buyer for BAR/BRI”