The all-cash deal to acquire the San Francisco-based startup is expected to close in the second half of this year, pending regulatory approvals. Casetext builds tools to automate processes including document review, legal research memos and contract analysis backed by ChatGPT-4. (The Logic)
Talking point: Toronto-based Thomson Reuters—which is controlled by Canada’s richest family, the Thomsons—has been wading deeper into artificial intelligence to power its core business segments: legal, corporates and tax and accounting services. It recently announced plans to spend at least US$100 million a year to invest in the sector. “This is what we need to spend to equip ourselves for a generative AI-driven environment,” CEO Steve Hasker told The Logic earlier this month.