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
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 14:54:00 EEST | Press release
PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets under management and achieved an annualized total shareholder return of 5.8% since 2017. Total shareholder return in 2025 was positively driven by increased dividends from portfolio companies and returns from financial investments. It was also impacted by downward movements in the valuations of some assets, as a result of wider market conditions, an
Foundever Successfully Closes a Holistic Recapitalization, Reducing its Debt by Nearly $900 Million and Strengthening its Financial Position for Long-Term Growth17.8.2026 14:30:00 EEST | Press release
Foundever Group S.A.® (“Foundever” or the “Company”) – a global leader in integrated customer experience, digital operations and analytics services, today announced that it has successfully closed a holistic recapitalization (the “Transaction”) in coordination with 95.4% of the lenders under its term loan facility (“Term Loan Lenders”), 100% of its revolving credit facility lenders (“RCF Lenders”), and the Company’s existing majority shareholders. The Transaction meaningfully strengthens Foundever’s financial foundation and positions the Company to invest in its growth strategy. Key terms of the Transaction include: Company's existing majority shareholders invest $225 million into common equity. Term loan facility exchange reduces the Company's total debt by nearly $900 million. Revolving credit facility maturity date is extended by more than four years to December 2030, and term loan maturity date is extended by more than 2.5 years to March 2031. Certain of the Company's RCF Lenders p
Uniphore Launches Marketing AI as Marketing Moves Beyond the CDP17.8.2026 14:30:00 EEST | Press release
Uniphore, the Business AI company, today launched Marketing AI, ushering in a new era of enterprise marketing built on customer intelligence rather than customer data management. Uniphore Marketing AI gives marketers the ability to know every customer better than ever before, predict what each customer is likely to do next and simulate marketing outcomes before committing budget. The system continuously learns from every customer interaction, making its predictions more accurate with every cycle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817325069/en/ The Uniphore Marketing AI Flywheel: A Self-Learning System Named a Leader in the 2026 Gartner® Magic Quadrant™ for Customer Data Platforms, Uniphore has helped enterprises bring customer data together while providing sovereign control over where that data lives. Marketing AI builds on that foundation, extending Uniphore’s composable approach from the data layer into the
Instabase Becomes SuperApp, Launches the AI Collaboration Super App17.8.2026 13:00:00 EEST | Press release
SuperApp, Inc., formerly Instabase, Inc., today launched SuperApp, the AI collaboration super app, available on the web, iOS, Android, and desktop. SuperApp brings teams and leading AI models from Anthropic, OpenAI, Google, xAI, and others into one live thread — from the first conversation to finished work. The company changed its name to reflect the new product and company direction. Work today is split into three. Teams talk in one app. They ask AI in another. They make the final work somewhere else. Every handoff asks people to remember what the software forgot. SuperApp brings those moments together. People and AI begin in the same live thread. Teams can use Claude from Anthropic, GPT from OpenAI, Gemini from Google, Grok from xAI, and other leading models, then turn the conversation into a document, presentation, spreadsheet, or interactive app — without losing the people, sources, decisions, feedback, or context that made the work possible. Put simply: think of the communication
Confluence Launches Confluence POINT, Bringing AI-Enabled Automation Across Its Product Suite.17.8.2026 12:04:00 EEST | Press release
Confluence Technologies, Inc. (“Confluence”), a global leader in regulatory, analytics, and investor communications solutions for the investment management industry, today announced the launch of Confluence POINT, AI-enabled automation that optimizes workflows across its solutions. Confluence delivers specialist regulatory, analytics and investor solutions that are unrivalled at what they do. POINT is AI-enabled automation that runs within and alongside these solutions, letting them do more for our clients, reducing manual effort that typically occurs before or after automated processes. POINT Validation transforms and validates documents across a range of formats, including unstructured data. POINT’s AI-powered validation is complete in minutes, delivered via an automated checklist that runs independently. Every finding is backed by an audit trail, and errors are flagged for follow up. POINT eliminates the time-consuming manual validation that follows automated financial and regulator
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