Legal business, Elevate has made its fourth business acquisition in four months.
Elevate does not describe itself as a law firm, although it provides contract lawyers. It does not describe itself as a technology company although technology and tech services are at its core.
What is Elevate?
The company describes itself as a law company. Elevate has not just appeared out of nowhere although it may seem to be that way. It was founded in 2011. With its latest acquisition, it has a team of 1,200 people.
Elevate is a law company with an increasing range of products and services provided to law departments and law firms. The broadening of its products and services and the increasing size of the company has been boosted by four acquisitions over the last four months. Its most recent acquisition has just been announced:
Elevate has acquired Yerra Solutions. Elevate and Yerra will fully integrate their respective service offerings, which closely parallel each other in consulting, technology and tech-enabled managed services for law departments and law firms. The Yerra leadership team have all joined Elevate, whose combined 1,200 team members, fluent in over 20 languages, serve customers from locations throughout North America, Europe, and Asia Pacific.
Elevate CEO Lokendra Tomar commented, “Customers have told us they want consulting, technology, and tech-enabled services from one provider that has experience working with peers in their specific industries. We have built a full range of capabilities that a Global 1000 general counsel can draw upon, and we are increasingly focused on the sector-specific nuances of running a law department. Yerra’s team deepens our financial services and life sciences sector expertise.”
Yerra is the fourth legal business Elevate has acquired in four months, including legal AI technology and consultancy LexPredict, contract lifecycle management (CLM) provider Sumati Group, and UK NewLaw legal resourcing firm Halebury. Along with Yerra’s international presence and expertise, Yerra’s roster of marquee global customers was a decisive factor in this acquisition. Credit Suisse acted as exclusive financial advisor to Yerra.
“We launched our businesses around the same time to help law departments run with greater business discipline,” said Rajitha Boer, Founder, President and CEO of Yerra. “Increasingly customers asked for more services, at scale, globally. By combining with Elevate we are in a stronger position to respond to that demand and grow where our customers need us most. We share very similar business philosophies, strategic goals and corporate cultures. Together, we provide our customers a deeper team of consultants and subject matter experts, more sophisticated technology capabilities, and expanded global managed services operations.”