Consolidation is a significant trend in the legal tech sector, exemplified by Litera’s recent acquisition of Office & Dragons. This reflects a broader movement of over 20 notable mergers and acquisitions in 2024 alone. Various factors contribute to this trend, including increased investor interest, a surge in legal tech startups, a demand for integration and cohesive user experiences, and larger companies seeking new features through acquisitions. There is also a shift towards point solutions among users, which may impact future consolidations. While this wave of consolidation is expected to continue, it is unlikely to last indefinitely.
Source: Legaltech hub
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