Robert Ambrogi Blog
The global legal technology company Litera said today that it has acquired FileTrail, a leading provider of information governance and records management software for law firms, corporations and highly regulated industries.
Terms of the deal were not disclosed.
With the acquisition of the 24-year-old company, Litera expands its offerings in the areas of governance, risk and compliance, adding to its law firm-focused GRC products CAM, PowerDesktop, and PS/Ship.
Litera says that the acquisition adds essential products to its suite of legal tools that unify data management, simplify compliance, streamline transfers, and optimize record disposition.
These additions will provide its customers with a more comprehensive and modernized solution for managing evolving regulations and data security threats across both physical and digital records, Litera says.
Litera CEO Sheryl Hoskins said that the acquisitoin will enable Litera customers to maintain a complete view of client and matter data in order to comply with regulatory obligations.
“FileTrail’s strength lies in its ability to offer a unified view of all data within an organization, and this integration into Litera’s existing GRC portfolio will provide firms and corporate departments with industry-leading governance, risk, and compliance capabilities,” Hoskins said.
According to FileTrail’s website, its customers include major law firms such as Jackson Lewis, Dorsey & Whitney, Clifford Chance, Sullivan & Cromwell, Akin Gump, Baker Donelson, and Hogan Lovells; corporations such as CBS, Georgia-Pacific, Mattel, and RE/MAX; financial services companies such as AIG, Chubb, Marsh McLennan, and Wells Fargo; and companies and organizations in energy, biotech, and other industries.
As a result of the acquisition, Litera says, it will now be able to offer an expanded set of capabilities that include:
- Comprehensive data management.
- Integrated digital collaboration management across systems such as document management, network file
shares, Microsoft Teams, and SharePoint. - Unified retention and compliance management.
- More streamlined review and approval workflows.
- Better management of partner and attorney client-matter transfers between firms.
- More effective management of outside storage vendors.
Harold Westervelt, FileTrail’s CEO, said he is excited that FileTrail’s products will reach a larger audience. “The combination of FileTrail’s capabilities, alongside Litera’s CAM, PowerDesktop, and PS/Ship products, creates a governance solution that allows our customers to have complete control over sensitive client data.”