News Summary

Burnaby, BC-based Clio has announced the acquisition of Miami-based, Barcelona-founded legaltech company vLex in a $1-billion USD cash-and-stock transaction. This deal marks Clio’s largest acquisition to date and aims to expand its global presence and capabilities in legal technology. vLex is known for its extensive legal and regulatory database, combined with an AI-powered search engine and assistant, serving over 2.8 million users across 100 countries. The acquisition is expected to revolutionize the legal industry by combining Clio’s legal operating system with vLex’s AI-driven legal research platform, establishing a new category of intelligent legal technology. This move follows Clio’s previous acquisition of UK-based ShareDo and comes nearly a year after Clio’s record-breaking $900-million USD Series F funding round.