Exigent, a UK based technology and managed legal services provider, has been acquired by Morae Global Corporation
Arrowpoint Advisory’s Business Services sector team has advised Exigent Group Limited on its sale to global leader in digital and business solutions, Morae Global Corporation. The combined company creates one of the legal industry’s largest, most experienced providers in the world with an unparalleled array of solutions – from proprietary and leading third-party technologies to technology and AI driven managed solutions.
Founded in 2003, Exigent is an ALSP (Alternative Legal Services Provider) offering technology, strategy and consulting services for legal departments. The company has over 500 employees in locations from Cape Town to Chicago.
Morae Global Corporation is trusted around the world for the delivery of digital and business solutions for a constantly changing legal industry. Founded in 2015, Morae has earned wide respect for the expertise and experience of our legal consulting, technology, and operations professionals, many of whom have in-house legal, law firm, or other relevant industry experience.
The acquisition of Exigent establishes a single company under the Morae brand spanning five continents and serving more than 1000 clients worldwide.
Shahzad Bashir, Chairman and Chief Executive Officer at Morae, said: “Our acquisition of Exigent, which achieves a major milestone in our growth strategy, enhances our capabilities to serve our clients and collaborate with them to change legal together. Exigent’s technology and its best-in-class Bangalore and Cape Town centers of excellence combined with Morae’s industry experience, expertise, and practical know-how enables a substantially greater scale and capability for our global delivery of managed legal solutions to our clients.”
Nicola Stott, Chief Executive Officer & Co-Founder at Exigent who will be joining Morae as a Senior Managing Director, commented: “Today marks the beginning of an exciting new chapter for Morae and Exigent. With the pace of change in legal quickening, especially in terms of technology and innovative resourcing, our union creates a global delivery platform that stands second to none in the market. We look forward to engaging with our many new Morae colleagues, with whom we share a common vision and passion for legal transformation, and perfectly aligned cultural values in integrity and trust, accountability, and collaboration.”
Nicola went on to add: “We have known Patrick and the team at Arrowpoint Advisory for many years as they nurtured their relationship with us, sharing their knowledge and understanding of our market, which made them a logical choice to partner with when the time came for us to consider our options.”
Lewis Gray, Director at Arrowpoint Advisory, added: “This transaction marks another landmark in the fast evolving Alternative Legal Services sector which is attracting significant capital from strategic and institutional investors in both the UK and US. Corporate legal departments and law firms are increasingly adopting new solutions to deliver legal workstreams at scale through technology, process and people – and legal talent is consistently seeking new career paths and ways to work. Best in class providers like Exigent are capitalising on these market trends to deliver exceptional growth, which looks set to continue as the legal ecosystem becomes more innovative and forward thinking.”
Patrick Groarke, Managing Director at Arrowpoint Advisory, concluded: “Having known the founders for over 20 years we are delighted to have advised on delivering an exceptional outcome for all sides and look forward to continue to see the company prosper as part of a global player in the outsourced legal services space.”
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