Legal Commentary

Thomson Reuters reports that it has acquired Pangea3, a legal process outsourcing provider that serves corporate law departments and law firms worldwide. As usual, the terms of the deal were not disclosed.

With dual headquarters in Mumbai and New York, Pangea3 has 650 employees at its delivery centers in Mumbai and New Delhi. Its client base includes both Am Law 250 firms and large corporations (pharma, finance, tech, food/beverage, consumer, etc.) The company was founded in 2004 by David Perla, formerly with Monster.com. He and co-CEO Sanjay Kamlani will remain in their roles.

Pangea3 services are organized into four business lines: legal document review; corporate transactions; IP; and risk management/compliance; the company embraces Six Sigma methodologies. 

Peter Warwick, TR's president and CEO, says the acquisition complements his company's portfolio of "specialized information and workflow [systems].The LPO marketplace is growing at more than 20% annually, and projected to exceed $1 billion this year, he said.

TR very recently realigned several of its units into a "GRC" operation (governance, risk management, compliance), so this seems to fit right into that plan.