Onit is excited to formally announce the acquisition of SimpleLegal, a leading US-based provider of spend, matter and vendor management software. This combination of Onit and SimpleLegal follows a formative investment in Onit by K1 Investment Management (K1) earlier this year.
This combination of Onit and SimpleLegal will represent the most comprehensive and modern global SaaS solution for the legal operations professional in in the market today and bring together the strengths and market positions of each company, ensuring legal operations professionals have an expansive product offering to run their legal department and business. Together, both companies will continue to deliver innovative software that drives best practices and offer deep domain expertise to serve both small organizations and large and complex enterprises, regardless of department size or geography. The combined company will continue to support each respective solution.
Onit, in combination with SimpleLegal, intends to create a comprehensive one-stop shop addressing most needs of a legal operations team. Each company will continue to operate independently with continuing roadmaps and investment. All support and services will continue as before, and all management teams will remain intact.
Founded in 2013, SimpleLegal is widely recognized as a ‘game changer’ in its own right in the legal technology market. With a “simple” solution delivering fast time-to-value, customers have an easily accessed legal technology on-ramp. In the last five years, SimpleLegal has processed more than $1.8B annually and managed nearly 500,000 matters globally all the while supporting 170+ currencies.