Today Thomson Reuters announced that it has sold its Elite suite products business, which includes 3E, ProLaw, eBillingHib and Mattersphere, to private equity firm TPG Inc., which through its various offshoots will hold a majority stake in Elite. Thomson Reuters will maintain a minority stake in business as well as board representation.
In a press release announcing the acquisition, Paul Fischer, president of the Legal Professionals business of Thomson Reuters noted the company will still actively support Elite. “We remain committed to providing our expertise and experience to help grow Elite while dedicating greater focus and investment in the area of content-enabled technology, including AI and automated workflow solutions, to better enable customers in the practice of law and to perform their work more efficiently,” he said.
