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
Worldwide First: Biedermann Motech Further Expands its MOSS!MODULARITY Platform with the Addition of MOSS EOS for Early Onset Scoliosis Surgery5.10.2026 12:00:00 EEST | Press release
Biedermann Motech, the prominent innovator in next generation spinal and extremity implant systems and procedural solutions, today announced the selective market introduction of the MOSS EOS® System for the treatment of children with severe early onset scoliosis.1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261005092768/en/ Early Onset Scoliosis is a rare pediatric disease where in certain cases surgical intervention can be indicated.2 Breaking new ground, Biedermann Motech will now introduce the world’s first MOSS EOS System featuring MOSS!MODULARITY™ to selective markets outside the U.S. The MOSS EOS System encompasses a modular platform of products and technologies for growth friendly pediatric spinal deformity surgery. Prof. Dr. Heiko Koller from Germany, one of the innovators behind the MOSS EOS System, carried out the first surgeries. His feedback was that the versatility of the system offers surgeons a broad range
LTM Launches BlueVerse™ AgenTraceIQ5.10.2026 11:30:00 EEST | Press release
LTM, the Business Creativity partner to the world's largest enterprises, today announced the launch of BlueVerse™ AgenTraceIQ, an offering designed to help organizations securely adopt and scale agentic AI. Combining Rubrik Agent Cloud with LTM's AI governance and managed services expertise, the offering enables organizations to monitor AI agents, establish guardrails, and rewind unintended agent actions across business-critical environments. Aspart of Rubrik’s Project Hourglass, LTM and other elite Global Systems Integrators partner with Rubrik, the Security and AI Operations Company, to deliver Rubrik Agent Cloud for Anthropic's Claude Code to their enterprise clients. The collaboration strengthens the ability for organizations to adopt agentic systems with the necessary security, governance, and resilience at scale. "As AI agents increasingly act autonomously, the stakes for enterprise security and resilience have never been higher. Together with LTM, we are empowering organizations
Logistics Reply Introduces the LEA AI Agent Authority Model - Bringing Governed Agentic AI Into Warehouse Execution With LEA Dynamic Intelligence5.10.2026 11:00:00 EEST | Press release
Logistics Reply, the Reply group company specializing in innovative solutions for supply chain execution and warehouse management, today unveiled the LEA AI Agent Authority Model, a new practical framework delivered alongside LEA Reply Dynamic Intelligence, enabling organizations to deploy AI agents with the right authority for each task—not maximum autonomy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261005360127/en/ Logistics Reply introduces the LEA AI Agent Authority Model, a new practical framework delivered alongside LEA Reply Dynamic Intelligence, enabling organizations to deploy AI agents with the right authority for each task—not maximum autonomy. As AI moves from assistance into live warehouse execution, organizations need a governed way to decide how much authority agents should have in each operational context. Without clear criteria, adoption can stall or place additional risk on operational teams. The aim i
Technology Innovation Institute Completes Asteroid-Landing Probe for Landmark Emirates Mission to the Asteroid Belt5.10.2026 10:42:00 EEST | Press release
The Technology Innovation Institute (TII) has revealed the UAE-built probe it has developed for the Emirates Mission to the Asteroid Belt (EMA). The probe will soon travel to Colorado, USA, for final integration with the MBR Explorer spacecraft ahead of its planned 2028 launch. In a historic first, TII’s probe will image two planets and seven asteroids — flying past six asteroids in the main belt before culminating in a rendezvous with and landing on the seventh, 269 Justitia. If successful, the landing will make Justitia only the seventh asteroid in history to be reached on the surface by the probe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261006586478/en/ H.E. Faisal Al Bannai, Secretary General of the Advanced Technology Research Council (ATRC), and H.E. Belhoul Al Falasi, Chairman of the UAE Space Agency, sign a model of the UAE-built probe developed by the Technology Innovation Institute (TII) for the Emirates Mis
JEOL: Sales launch of HAXIS: The New Low-angle Ion Milling Scanning Electron Microscope5.10.2026 10:30:00 EEST | Press release
JEOL Ltd. (President & CEO Izumi Oi) announces the development of its new low‑angle ion‑milling scanning electron microscope, HAXIS, and will commence sales on October 5, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928207899/en/ HAXIS Low-angle Ion Milling Scanning Electron Microscope HAXIS Low-angle Ion Milling Scanning Electron Microscope Background of development As advanced semiconductor device structures continue to shrink and grow more complex, it has become difficult to contact and measure microscale circuits using nano-manipulators. In addition, contact caused by probing may affect the analysis target, necessitating new failure analysis methods. JEOL has conducted long-term research on the passive voltage contrast (PVC) detection technology and established a method for stable, highly reproducible PVC observation technology through the advancement of detectors and sample preparation techniques. HAXIS is JE
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