Thomson Reuters Corp

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Thomson Reuters: Casetext Acquisition a Bet on AI

Rajiv Bhatia

Jun 27, 2023

On June 27, narrow-moat-rated Thomson Reuters held a conference call to discuss its agreement to acquire Casetext, a provider of legal artificial intelligence tools, for $650 million in cash. The deal was not entirely surprising given that Insider reported that Casetext was in talks to be acquired last month. According to PitchBook data, Casetext previously raised $25 million in January 2022, giving the firm a post-money valuation of $125 million. The deal is expected to close in the second half of 2023.

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