02 Oct 2015
ICON advises Business Integrity on its sale to Thomson Reuters. Business Integrity is a leading provider of document assembly and contract creation tools for law firms and corporations.
Effective immediately, the company is part of the Legal business of Thomson Reuters. Financial terms of the transaction were not disclosed.
Business Integrity has strong proprietary technology and is well-established in the UK legal market as well as the US and other key jurisdictions around the world. Its primary product is a document and contract automation software solution called ContractExpress, which provides lawyers and end-users with a faster, more efficient way to draft documents while ensuring consistency and reducing risk.
Business Integrity’s leading solutions make an excellent strategic fit and a natural complement to the strong brands and content owned by Thomson Reuters, including Practical Law, Westlaw and its innovative legal software and services offerings.
“The acquisition of Business Integrity helps support our vision of a more efficient and connected legal ecosystem that incorporates powerful technologies and workflow solutions. It complements our existing core offerings and allows us to share new capabilities with our customers around the world,” said Jan-Coos Geesink, Managing Director for the UK & Ireland legal business at Thomson Reuters. “As such, this is an exciting acquisition and I’m delighted to welcome our new colleagues to Thomson Reuters.”
Brian Parker Head of M&A at ICON Corporate Finance who acted for Business Integrity on the sale, added: "It is an exciting business with leading edge document automation technology and fantastic global blue chip clients. We generated really good interest from a range of international buyers which led to a considerable amount of competitive tension. This provided the shareholders with a variety of buyers. Thomson Reuters was a great choice."