NEW YORK & TORONTO--(BUSINESS WIRE)--Axiom,
a recognized leader in the business of law and leading provider of
technology-enabled legal and contracting services, today announced an
agreement to acquire the General Counsel business of Toronto-based
innovative law firm Cognition
LLP. With operational synergies, a cultural alignment and a shared
mission to modernize the legal market, this deal, expected to close in
the first quarter, will unite the leading Canadian and American
alternative legal providers and extend Axiom's reach across the border.
For Axiom, Cognition's corporate business represents an economically and
culturally attractive gateway into the Canadian legal industry.
Toronto's corporate base skews heavily toward Axiom's strengths in the
financial services and technology industries, making it an ideal
location for Axiom's continued global expansion.
"Boasting a portfolio of almost 50 lawyers and a client roster that
includes 60 leading global corporations, Cognition has been the
undisputed 'new law' leader in Canada since its inception ten years
ago," said Will McKinnon, SVP of New Market Development at Axiom. "The
ability to build on Cognition's reputation and standing in the market
validated our means of entry into the region. Indeed, the acquisition
will give Axiom not only an immediate team of highly skilled and
credentialed lawyers, but introduction to Canada's most progressive and
influential General Counsel, with whom Cognition already has trusted and
long-standing relationships."
Equally important, both Cognition and Axiom have long recognized the
inefficiencies that plague the legal market and have leveraged
technology to reengineer and modernize the delivery of legal services.
"As law firm associates, Mark Harris and I both had separate, but
similar, 'a-ha' moments in realizing the extreme inefficiencies at work
in a traditional law firm environment," said Joe Milstone, Co-Founder of
Cognition. "Since then, we've both made it our mission to rid the legal
world of those inefficiencies. For years now, Axiom and Cognition have
been collaborating on cross-border work. That collaboration led us both
to another - this time, shared - 'a-ha' moment about formalizing our
partnership. We're thrilled to now officially be a part of Axiom's
mission to modernize the legal industry, both here in Canada and
globally."
As part of the deal, Cognition LLP will separate into two distinct
entities: Axiom Cognition, an Axiom corporation serving corporate
clients with in-house legal departments; and Caravel Law, a law firm
serving small and medium sized enterprises without internal legal
departments.
The Toronto office will be Axiom's 6th international office,
and 16th overall. Axiom's global presence will introduce
Cognition clients and lawyers to a broader respective lawyer and client
base, allowing the firm to extend its mission on a more global scale.
Indeed, the acquisition of Cognition's General Counsel business, and
Axiom's resulting expansion into Toronto, represents a continued
enlargement of the firm's global footprint. Upon acquisition completion,
Axiom will comprise more than 1,500 lawyers, professionals, process
engineers and technologists, serving over half the Fortune 100.
About Axiom
Axiom, a recognized leader in the business of law, provides tech-enabled
legal, contracts, and compliance solutions for large enterprises.
Axiom's solutions combine legal experience, technology, and data
analytics to deliver work in a way that dramatically reduces risk, cost
and cycle-time. The firm comprises 1,500 lawyers, professionals, process
engineers and technologists who serve over half the Fortune 100 across
16 offices and 5 centers of excellence globally. www.axiomlaw.com
Follow us on Twitter: @Axiom_Law
About Caravel Law
Building on 10 years of solid success as part of Cognition LLP, Caravel
Law is an innovative legal solutions provider structured to deliver
legal services exclusively to Enterprise Clients. At Caravel Law, we
connect experienced, business savvy lawyers with organizations looking
for dedicated, tech enabled and cost-efficient legal solutions. While
the name may be new, the premise is the same: we focus on happy clients
and happy lawyers. The kind of legal innovation that makes doing
business so much more sensible.
Visit Caravel Law online at www.caravellaw.com and
follow us on Twitter @caravellaw.
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