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
Interactive Brokers Expands Access to Korean Equities with Launch of Nextrade ATS30.6.2026 17:00:00 EEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of select Korean equities through Nextrade, South Korea's first Alternative Trading System (ATS). The addition of Nextrade builds on Interactive Brokers' earlier launch of the Korea Exchange (KRX), through which it became the first major US-based broker to provide global investors with direct access to Korean equities. Clients trading on Nextrade benefit from significantly extended trading hours and access to additional liquidity. Interactive Brokers has enabled IB SmartRouting℠ across both the Korea Exchange (KRX) and Nextrade, automatically routing orders to the venue offering the best price. This helps clients achieve best execution while providing greater flexibility and more opportunities to participate in one of Asia's most dynamic equity markets. Korea's equity market ranks among the top global exchanges by market capitalization and is home to world-leading companies such as Samsung Electr
Andersen Global Adds Depth to Tax and Global Mobility Capabilities in Germany30.6.2026 16:30:00 EEST | Press release
Andersen Global strengthens its presence through a Collaboration Agreement with Lohr and Company (L+C), a senior-led tax advisory platform, providing practical, responsive solutions in tax compliance, cross-border tax, global mobility, and transfer pricing. Headquartered in Germany with a presence in Austria, L+C advises large multinationals and family-owned companies, family offices, foundations, and high-net-worth individuals. The firm, founded in 2001, specializes in areas such as global mobility, M&A, international tax law, country-by-country reporting, and transfer pricing, including Pillar 2 reporting. Additionally, L+C supports clients with trusts and foundations, tax compliance, payroll and financial accounting, and private financial advisory services. “Collaborating with Andersen Global represents an important step in expanding our international capabilities and strengthening the value we provide to clients navigating increasingly complex cross-border matters,” said Jörg-Andre
90% of IT Leaders See Gaps in AI Threat Readiness, Lenovo Brings Single Point of Accountability to Cyber Resiliency30.6.2026 16:00:00 EEST | Press release
As organizations accelerate AI adoption and digital workplace transformation, many are finding that cyber resilience is undermined not by a lack of security tools, but by growing operational complexity and threat sophistication. According to recent research, 90% of IT leaders acknowledge gaps in their ability to defend against AI-driven threats. While security investments continue to grow, many organizations face a different challenge: fragmented accountability. Security operations remain highly distributed and siloed, making it increasingly difficult to coordinate response efforts, maintain end-to-end business continuity, and recover quickly when incidents occur. To help organizations address this challenge, Lenovo is expanding its global Security Services portfolio with a revamped cyber resiliency framework and end-to-end security offerings designed to provide a single point of accountability, help organizations reduce security complexity, cut system downtime by up to 50%, and lower
SC Therapeutics Initiates REACH2 Trial for Refractory Chronic Cough30.6.2026 16:00:00 EEST | Press release
SC Therapeutics, a clinical-stage biopharmaceutical company pioneering therapies that deactivate mechano-sensitive ion channels (MSCs) to treat respiratory and cardiovascular disease, today reports initiation of the REACH2 trial. The study will evaluate the Company's lead product candidate in patients with refractory chronic cough (RCC) – a debilitating condition for which no disease-modifying treatment options currently exist. The trial will be run in three major cough centers across the UK. A Novel, Disease-Modifying Mechanism of Action SC0032, SC Therapeutics' most advanced product candidate, is a proprietary therapeutic aerosol composed entirely of ions endogenous to human airways. Unlike current symptomatic investigational drugs – including P2X3 receptor antagonists and neurokinin-1 (NK1) receptor antagonists that seek to dampen neural hypersensitivity through receptor blockade – SC0032’s approach directly addresses the upstream inflammatory drivers of chronic cough. By acting to
Tacton Launches Portfolio Performance Intelligence to Help Manufacturers Understand Why Products Win30.6.2026 16:00:00 EEST | Press release
Tacton, a global leader in Configure, Price, Quote (CPQ) solutions for manufacturers of complex products, today announced the launch of Portfolio Performance Intelligence, a new analytics capability designed to help manufacturers understand why products win, where margin is created or lost, and which decisions consistently drive successful business outcomes. Manufacturers don't lack data. They lack the context needed to understand why products perform the way they do and why customers choose them. ERP systems show what was sold, CRM platforms track opportunities, and BI tools visualize trends. But when manufacturers try to understand which customer requirements drive demand, which configurations consistently win, or why margins vary across products, regions or segments, the answers are often unclear. That's because the most important layer of insight–the connection between customer needs, configuration decisions and deal outcomes–only exists within CPQ. “As product complexity increases
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