LexisNexis to Acquire Document Drafting Tech Provider Henchman to Enhance AI Solutions
Jun 04, 2024•over 1 year ago
Acquiring Company
LexisNexis Legal & Professional
Acquired Company
Henchman
New York
GhentLegalArtificial IntelligenceLegal TechLegalSaasArtificial IntelligenceSoftwareDescription
LexisNexis, a leading global provider of information and analytics, has announced its agreement to acquire Henchman, a legal tech company specializing in data enrichment from Document Management Systems. This acquisition is aimed at integrating Henchman's technology with LexisNexis' AI solutions to deliver personalized generative AI experiences for customers around the world, and is expected to close early in the second half of 2024.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed