RRD - Donnelley Financial To Acquire eBrevia For Legal AI Tech
Quick Take
Donnelley Financial Solutions (DFIN) announced it has agreed to acquire the remainder of eBrevia for up to $23.5 million.
eBrevia has developed an AI software that extracts and generates insights from legal documents.
DFIN is bringing AI-based technologies in-house, which may signal management’s focus in future acquisitions and product development.
Target Company
New York-based eBrevia was founded in 2011 to develop an AI algorithm that utilizes machine learning and natural language processing to review contracts. The firm partnered with Columbia University on the technology.
Management is headed by Co-Founder and CEO