Litera Agrees to Acquire Leading Machine Learning Contract Analysis Company, Kira Systems
10.8.2021 20:00:00 EEST | Business Wire | Press release
Litera, a global leader in legal technology solutions with more than 15,000 customers, announced that it has agreed to acquire Kira Systems (“Kira”), the industry leader in machine learning contract review and analysis software.
Founded in 2011 and based in Toronto, Canada, Kira is a leader in contract analysis software for law firms and has transformed the contract review process, helping lawyers to analyze more documents with greater efficiency and accuracy. Kira’s patented, award-winning machine learning technology, quickly extracts concepts and data points and comes with over 1200 built-in provision models.
As part of the acquisition, Insight Partners, an investor in Kira Systems since August 2018, will further its investment in Kira, becoming a minority investor in Litera. Hg, a global software and services investor will remain the majority investor in Litera. Hg first invested in Litera in 2019. Since then, Litera has seen significant organic growth and completed a number of acquisitions, more than trebling the size of the business.
Kira has transformed the way law firms complete diligence. On a typical M&A deal, lawyers are only reviewing a small set of contracts because it traditionally has not been economically feasible to do more. This selective process inherently increases risk in the deal, and important information can be overlooked. With Kira, lawyers can review more contracts efficiently and accurately to mitigate risks and provide more significant insights into transactions. Ultimately, Kira’s technology will further Litera’s mission to support law firms to improve client retention, increase margins, and enhance end-user happiness.
Avaneesh Marwaha, Litera CEO, said in a statement that the acquisition would “allow us to include advanced machine learning workflows into our Transaction Management platform. Providing lawyers with significantly expanded workflows to manage more aspects of the deal management process of higher quality. We are also incredibly impressed by the Kira team and leadership, whose expertise will be a strong addition to the Litera family. Overall, Kira enables us to provide total diligence for the transaction and deal management lifecycle.”
“Litera is the perfect partner for Kira. They have a deep understanding of the legal market globally and share our vision that technology can transform the contract review process. Litera has achieved ubiquity in the legal market for its Drafting products. We believe this acquisition will ensure Kira achieves ubiquity in the due diligence review process, as well as provide a welcome home for our customers and employees,” said Noah Waisberg, CEO and Co-Founder. As part of the transaction, Noah will continue as a strategic advisor to Litera.
Avaneesh Marwaha will speak further about the acquisition in his CEO Executive Briefing on August 19th, 10 a.m. CT, and ILTACON 2021, August 22-26 in Las Vegas.
As part of the overall transaction, Kira Systems is spinning off a new company, Zuva, which will continue to advance the state of the art of machine learning for business documents and will be focused on delivering tools that enable the world’s businesses to know what’s in their contracts. Noah Waisberg will lead the new company as CEO, Kira Co-Founder and CTO Dr. Alexander Hudek will be a strategic advisor and board director.
Zuva will officially launch and make its first product announcement in September 2021.
About Kira Systems
Kira Systems’ technology is a powerful, award-winning software solution that excels at searching and analyzing contract and document text, helping the world’s largest corporations and professional service firms uncover relevant information from their contracts and related documents. Kira can be deployed for contract intelligence due diligence, knowledge management, real estate, regulatory compliance, and wherever visibility into contract and document data is critical. To find out more, please visit www.kirasystems.com.
About Litera
Litera has been a global leader in legal technology for 25+ years, helping legal teams work more efficiently, accurately, and competitively. As a leader in document workflow, collaboration, and data management solutions, we empower legal teams with simplified technology for creating and managing all their documents, deals, cases, and data. For more information about Litera visit, litera.com or follow us on LinkedIn.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005645/en/
Contact information
Media
Litera:
Kerry Carroll, Director, Marketing Communications
kerry.carroll@litera.com
Kira Systems:
Vanita Thind, Communications & Marketing Manager
vanita.thind@kirasystems.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mouser Electronics Explores How Artificial Intelligence Shapes Everyday Technologies and Experiences7.4.2026 18:11:00 EEST | Press release
Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, today announced the first 2026 installment of its Empowering Innovation Together (EIT) technology series, Engineering AI for Daily Life. This installment explores how artificial intelligence is increasingly embedded in everyday products and services, from assisted search and messaging tools to healthcare wearables that monitor personal well-being. As AI capabilities expand across consumer and connected devices, engineers continue to design systems that make these technologies more useful, intuitive, and trustworthy in real-world applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407524737/en/ This installment of Empowering Innovation Together explores how AI is increasingly embedded in everyday products and services, from assisted search and messaging tools to healthcare wearables
Umrah and Ziyarah Forum Concludes in Madinah with Landmark Achievements in Pilgrim Services7.4.2026 17:38:00 EEST | Press release
Under the generous patronage of His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of the Madinah Region, the third edition of the Umrah, Hajj, and Ziyarah Forum concluded its activities, marking a significant milestone in the Kingdom's mission to enhance the experience for the "Guests of Allah." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407456369/en/ Umrah and Ziyarah Forum Concludes in Madinah with Landmark Achievements in Pilgrim Services (Photo: AETOSWire) The final harvest of the forum resulted in exceptional numbers and a massive turnout, with more than 50,000 visitors flocking to the accompanying exhibition, which attracted over 150 exhibitors from global and local companies across an area exceeding 11,000 square meters. To enrich the knowledge aspect, the three days of the forum featured more than 160 speakers and trainers who contributed to discussions across 25 main sessions and 40 workshop
Gurobi Defines Its Role as the Technology Behind Better Decisions in the AI Era7.4.2026 16:00:00 EEST | Press release
Gurobi Optimization, LLC, the leader in decision intelligence technology, today announced a renewed brand identity that reflects its role in empowering organizations to make better decisions in complex, high-stakes environments. As organizations increasingly rely on optimization to put their AI-driven insights into action, the Gurobi Optimizer is a foundational component of decision intelligence systems, where different approaches to AI—from prediction to optimization—work together to guide business outcomes. “AI has transformed how organizations generate insight, but insight alone does not drive outcomes—decisions do,” said Duke Perrucci, CEO, Gurobi. “We see optimization as the GPS for AI, enabling users to determine the best possible course of action in complex environments. Those decisions are what drive real outcomes, and we’re proud to be the technology behind them.” Across industries such as energy, supply chain management, manufacturing, and finance, organizations trust Gurobi
Poland's Galaxy Systemy Informatyczne Becomes First Private Enterprise to Buy Quantum Computer from IQM7.4.2026 16:00:00 EEST | Press release
IQM Quantum Computers, a global leader in superconducting quantum computing, today announced a commercial milestone to deploy a hybrid integrated quantum computer at GalaxySystemy Informatyczne Sp. z o.o., marking its first deployment in a private enterprise worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407351934/en/ IQM Radiance quantum computer Galaxy has been implementing innovations in security, digitisation, and hardware infrastructure while providing IT solutions, supporting HPC infrastructure to shape Poland’s economy based on data and artificial intelligence. The 54-qubit Radiance system will also be the most advanced quantum computer in Poland, and Galaxy, a provider of technological solutions, will become the first private company in the world to own and operate such quantum infrastructure. The system, which will be installed at Galaxy’s headquarters in Zielona Góra in the fourth quarter of 2026, wil
Cessna SkyCourier Strengthens Mission Versatility With New In‑Flight Operable Door Option7.4.2026 16:00:00 EEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced a new In-Flight Operable Door option for the passenger variant of its twin-engine, large-utility Cessna SkyCourier turboprop, expanding the aircraft’s Special Mission versatility for military, humanitarian and commercial operations. The functionality is expected to be available as a Special Mission factory-installed option in 2028. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407228562/en/ Mission flexibility starts at the Cessna SkyCourier door “An In-Flight Operable Door builds on the Cessna SkyCourier’s reputation for reliability and adaptability, reinforcing its role as a purpose-built solution for high-demand missions,” said Bob Gibbs, vice president, Special Missions Sales. “The option opens new opportunities for customers worldwide, including armed forces, smokejumpers, disaster relief groups and commercial skydiving operators.” The Cessna
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom