TPG AND THOMSON REUTERS


Associated tags: Legal, TPG Inc., Elite, Cryptocurrency, News, Law, AI, 3E, History, Thomson Reuters, Finance, TRI, Wardwell, Other Professional Services, Asset Management, Software, Professional Services, Business, Accounting, TPG

Thomson Reuters and TPG to Establish Elite as an Independent Legal Tech Company

Retrieved on: 
Tuesday, April 4, 2023
Legal, Technology, Finance, Accounting, Business, Professional Services, Software, Asset Management, Other Professional Services, Wardwell, TRI, Thomson Reuters, TPG Inc., History, 3E, Growth, AI, Law, News, Cryptocurrency, Elite, TPG

TPG (NASDAQ: TPG) and Thomson Reuters (TSX/NYSE: TRI) today announced that they have signed a definitive agreement for TPG to acquire a majority stake in Elite from Thomson Reuters, valuing the business at approximately US$500 million.

Key Points: 
  • TPG (NASDAQ: TPG) and Thomson Reuters (TSX/NYSE: TRI) today announced that they have signed a definitive agreement for TPG to acquire a majority stake in Elite from Thomson Reuters, valuing the business at approximately US$500 million.
  • Thomson Reuters will retain a minority ownership stake in the business and have board representation, supporting Elite strategically going forward.
  • We believe the legal industry is a market that is undergoing digital transformation, and Elite partners with leading firms on that journey,” said Tim Millikin, Partner at TPG.
  • Baker McKenzie is serving as legal counsel to Thomson Reuters, and Davis Polk & Wardwell LLP is serving as legal counsel to TPG.