Credit: Radomir Jovanovic /Adobe Stock Legal Reacts to Thomson Reuters' Casetext Acquisition: 'The Winners Are Yet to Be Determined'
Days after Thomson Reuters announced its $650 million acquisition of legal research company Casetext, known for its AI legal assistant CoCounsel, the legal industry had questions about what the purchase means, and doesn't.
June 30, 2023 at 02:58 PM
5 minute read
In late June, Thomson Reuters announced that it signed a definitive agreement to purchase legal research company Casetext for $650 million in cash.
In a press release announcing the news, Thomson Reuters stressed its commitment to investing "more than $100 million annually on AI capabilities." It also said that the Casetext acquisition, which comes months after the company launched its generative artificial intelligence-powered legal assistant CoCounsel in March, was part of Thomson Reuters' larger AI strategy.
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