The combination of these two world-class companies with complementary technology, product, and service offerings creates a new level of value, breadth, and choice to organizations of all types and sizes in the legal, claims, and risk markets.
Yesterday, Wolters Kluwer announced the acquisition of the remaining shares of Third Coast Holdings, Inc., parent company of Datacert, Inc., which will become part of the Wolters Kluwer Corporate Legal Services (CLS) division.
Founded in 1998, Datacert is one of the world's leading providers of enterprise legal management (ELM) solutions that serve corporate general counsel, compliance and claims department executives, and law firms. Datacert's solutions include legal spend management; matter management; legal governance, risk, and compliance; and insurance claims defense, which are all delivered on a common technology platform called Passport®. The company's deep industry expertise, enterprise-class solutions, and global network of 50+ partners, have enabled Datacert to support the needs of Fortune/Fortune Global 500 companies and their more than 13,000 law firm connections in over 140 countries.
Datacert, which has experienced 15 consecutive years of revenue growth, will be combined with Wolters Kluwer Corporate Legal Services' high-growth ELM business, TyMetrix. The combined high-growth business will have increased capability to expand its global product offerings, create global value to fuel international expansion, and extend value from legal analytics across a broader base of corporate legal departments, claims organizations and law firms. The acquisition also strengthens CLS's global portfolio in the growing category of legal governance, risk, and compliance software applications focused on helping companies identify and mitigate risk.
Both TyMetrix and Datacert have been recognized for innovative and pioneering efforts in the ELM market, each having been recognized as "Leaders" by Gartner, Inc. in its inaugural Magic Quadrant for Enterprise Legal Management in 2013. TyMetrix was cited for transformational innovations in its Legal Analytics offerings and the unique strategic partnerships they create with their clients. Datacert was touted as a technology visionary, having developed the world-class Passport platform to provide scalability, agility, and a flexible application environment to meet the needs of a rapidly changing legal technology frontier. The combination of these two world-class companies with complementary technology, product, and service offerings creates a new level of value, breadth, and choice to organizations of all types and sizes in the legal, claims, and risk markets.
"We remain strongly committed to serving our customers in the ELM market and are excited to be able to offer greater choice and product innovation. We will continue to support and invest in the TyMetrix and Datacert product lines while offering the highest levels of service and support our clients have come to expect," said Richard Flynn, Group President and CEO, Wolters Kluwer Corporate Legal Services.
Julie Peck, General Manager of TyMetrix, added, "This is a unique opportunity for two market innovators to join forces and, together, create and deliver an unprecedented level of technical flexibility, analytics and business intelligence value, and global expertise to clients and law firms across the ELM market."
“The ELM market standard will be set by this new combined business”, said Jim Tallman, CEO & President, Datacert. “By joining forces with Wolters Kluwer and TyMetrix, we can realize the long-term vision of providing a full suite of legal products and services to our global customer base.”