LexisNexis to Acquire Belgium-Based Legal Tech Company Henchman
LexisNexis Legal & Professional announced today that it has reached an agreement to acquire Henchman, a Belgium-based legal technology company specializing in contract drafting. The acquisition is aimed at enhancing LexisNexis’ document management system to enable faster document drafting and provide personalized generative AI solutions to customers worldwide.
According to Jeffrey S. Pfeifer, chief product officer for LexisNexis Legal and Professional, the acquisition of Henchman will combine the company’s document management system data enrichment with LexisNexis’ drafting guidance content to deliver a personalized generative AI experience. This technology will be integrated with LexisNexis’ existing AI legal research platform and Microsoft 365 add-in to streamline drafting processes for legal professionals.
Henchman’s technology interacts with the document management systems of law firms and corporations, indexing contract documents at the clause level to provide valuable insights for drafting. The company, founded in 2020, boasts over 170 legal and corporate customers globally and was recently recognized as a finalist in the Startup Alley at ABA Techshow.
The acquisition is expected to be finalized in the early second half of 2024, marking a significant milestone in LexisNexis’ efforts to enhance its drafting capabilities and provide innovative solutions to the legal industry.