Sizzling off the presses is information that Francisco Companions, a significant international funding agency that makes a speciality of partnering with know-how companies, introduced plans to amass Elite, a authorized know-how firm that makes a speciality of monetary administration and enterprise operations.
It’ll purchase it from its present house owners, TPG Capital, the U.S. and European non-public fairness platform of worldwide different asset administration agency TPG, and Thomson Reuters.
The acquisition will present Elite with a brand new monetary associate to assist the corporate capitalize on its present momentum and proceed to drive product innovation and development, in accordance with an announcement of the acquisition.
Phrases of the transaction weren’t disclosed.
Based in 1947, Elite has an extended historical past of offering know-how options to the authorized business, with a specific focus over the previous a number of many years on monetary and apply administration techniques for big and mid-sized legislation corporations.
Its flagship merchandise embody 3E, ProLaw, eBillingHub, and MatterSphere, which assist automate and streamline billing, invoicing, funds, and monetary reporting for most of the world’s main legislation corporations.
From 2003 till June 2023, Elite was owned by Thomson Reuters. In 2023, a majority stake in Elite was acquired by non-public fairness agency TPG for roughly $500 million, making Elite an unbiased firm. Thomson Reuters retained a minority stake and board illustration, whereas Elite continued to keep up integrations with Thomson Reuters merchandise.
Since its spin-out, Elite has sought to resume its give attention to innovation, together with a refreshed model and new AI-driven options, and it has continued to increase its suite of cloud-based options. In January 2025, Elite additional expanded its choices by buying Tranch, a funds and bill automation platform catering to giant legislation corporations.
In accordance with the announcement, Elite at present serves about 2,000 legislation corporations, together with 75% of the Am Regulation 100 and 72% of the International 100.
“With Francisco Companions’ monetary help and intensive authorized software program and funds experience, we’re assured they’re the fitting associate to assist us proceed to ship our transformative merchandise to the authorized business,” mentioned Mark Dorman, CEO of Elite. “Constructing on the success we achieved with TPG, this subsequent part positions Elite to scale quicker, deepen our cloud and AI capabilities, and assist legislation corporations function with better pace, perception, and effectivity.”
Peter Christodoulo, associate at Francisco Companions, mentioned: “Elite’s highly effective, cloud-based platform for big legislation corporations positions it completely for long-term development.”
The transaction is predicted to be accomplished within the third quarter of 2025, topic to customary closing circumstances.
Francisco Companions has invested in a lot of authorized tech firms over time, together with Aderant, BARBRI, LegalZoom and Paradigm.
