Agiloft, a contract management company that's been around almost three decades, has picked up a $45 million investment from FTV Capital and has a new CEO -- Eric Laughlin, formerly of EY. Former CEO Colin Earl, founder of the company, is staying on as chief technology officer.
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Eric Laughlin, CEO of Agiloft, makes the case that contract lifecycle management software has "graduated" from legaltech to become part of companies' "information architecture." Laughlin also says he doesn't see one company dominating CLM, "not in the next three to five years."
California surprised the legal community last week by putting forth the final version of its new privacy law and declaring it effective immediately, instead of on the expected date, Oct. 1. State Attorney General Xavier Becerra's office also deleted, without comment, some sections of the law, including a provision requiring companies to obtain consumers' consent before repurposing their information.
Thomson Reuters is out with a souped-up version of HighQ, the file-sharing and collaboration program it acquired last year. The latest release, HighQ 5.4, adds the functions of two other Thomson Reuters products, Legal Tracker and Contract Express, as well as mobile apps and contract analysis by artificial intelligence.
Labor law firm Fisher Phillips has pulled together a three-way collaboration to offer a "360-degree view" predicting litigation outcomes. Thomson Reuters is part of the effort, as is LegalMation, which will draw on the law firm's data as well as sources available to the public.
Carrick Capital Partners is stepping up to own a majority of Factor, a managed services company spun off last year from Axiom, in a deal Factor calls "one of the biggest net new investments in the global legal solutions market," though it did not give a number. Factor plans to put the cash infusion toward expanding its global presence in the financial services, enterprise and life sciences sectors.