Eversheds has looked at selling its Global Account Management System (GAMS) after discussions with a number of IT providers.

The firm has been approached by a number of organisations, including LexisNexis, which was interested in buying the product, which allows clients and lawyers within the firm detailed online access to up-to-date information about work in progress across all relevant jurisdictions.

Despite the discussions, Eversheds has decided not to sell the product for the time being, though it has not ruled out a future sale. A deal could have seen the firm receive a lump sum payout for the technology as well as potential royalties from future sales.

Eversheds uses GAMS to provide those clients for which it acts as sole or primary legal adviser with access to data including oversight of the project and legal fees to date. Clients benefiting from the service include Tyco, Stiefel, Brady Corp and Smiths Group.

Eversheds uses GAMS across 80 jurisdictions for Tyco, with the client team, led by head of international Stephen Hopkins, initially developing the software for Tyco in 2006 with a seven-figure investment.

Eversheds chief executive Bryan Hughes said: "We have had several organisations approach us with an interest in investing in our GAMS system. The system allows us to offer client service excellence and a seamless international service across jurisdictions and, as such, gives us a distinct advantage over other international law firms. There is no substantive business reason for us to sell the GAMS system at this time."