IP analytics company Lex Machina is sold to LexisNexis; it plans expansion to new practice areas
LexisNexis has agreed to buy Lex Machina, a company that analyzes data from intellectual property cases.
The acquisition will allow Lex Machina to expand its analytics to other practice areas and help LexisNexis enhance its products, report LawSites by Robert Ambrogi, Legaltech News and Bloomberg BNA’s BigLaw Business.
Currently Lex Machina uses data from Pacer and other sources to reveal insights about judges, lawyers, parties and patents. Steven Errick, vice president and managing director of research services at LexisNexis, told LawSites that Lex Machina may expand its analytics to include federal litigation such as securities and bankruptcy cases.
Other potential areas of expansion include commercial and tort cases, Lex Machina CEO Josh Becker told BigLaw Business.
In a press release, the acquisition of Lex Machina is described as part of an “ongoing LexisNexis commitment to offer modern, next-generation legal research solutions that harness the power of Big Data” and improve efficiency.
“Data and analytics are integral to the future of the practice of law and the addition of Lex Machina solidifies the LexisNexis position as a leader in providing analytic decision tools for legal professionals,” said Sean Fitzpatrick, managing director of North American Research Solutions at LexisNexis, in the press release.
The companies did not reveal the purchase price, though BigLaw Business cites an anonymous source who said Lex Machina had sought up to $35 million.