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EY announces completion of Pangea3 Legal Managed Services acquisition

The acquisition will enhance EY technology-enabled LMS in the three core areas of contract life cycle management, regulatory risk and compliance, and investigations.

June 03, 2019 / 07:38 PM IST

EY announced the closing of the acquisition of the Pangea3 Legal Managed Services (LMS) business from Thomson Reuters. Together with the recent acquisition of Riverview Law, this means that EY is the first organization with service offerings including legal function consulting, LMS and legal technology in addition to legal advisory services where permitted, in more than 80 jurisdictions.

The acquisition significantly grows the existing EY Law service offerings. With Pangea3, more than 1,100 legal project managers, services professionals and technologists join EY, bringing the total number of EY Law professionals across the globe to 3,500. The acquisition will enhance EY technology-enabled LMS in the three core areas of contract life cycle management, regulatory risk and compliance, and investigations.

"Companies are looking to transform their legal departments. Cutting-edge technology, processes and the right people that can integrate legal functions into the business more holistically are key to this transformation. This acquisition deepens the EY bench of skilled resources to help companies modernize their law departments and arrive at the optimal operating model,” said Kate Barton, EY Global vice Chair – Tax.

The acquisition supports the growth of the EY LMS offerings by expanding resources and capabilities, offering legal process automation and a services model across the globe. These capabilities will also introduce measurable efficiencies and help clients transform their legal departments and deliver meaningful value to their businesses.

"In addition to reducing costs and driving efficiencies, legal departments recognize that the future lies in aligning closely with broader business transformation. Through the acquisition of Pangea3, EY Law services are well positioned to leverage broad professional services experience to create a consistent, market-leading offering across the globe that will shape the legal functions of the future," said Jeff Banta, EY Global Law Co-Leader.

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Pangea3 has grown significantly within Thomas Reuters and has 15 years of experience, operating out of eight centres worldwide. It boasts deep technology experience, multi-lingual capabilities and a "follow-the-sun" model, which supports legal workflow and quality control.

"The EY Legal Operations service offerings now stand at the cutting-edge of enterprise legal managed service delivery, providing deep domain knowledge, process rigor and scale to guide and implement business transformation. The combination of legal function consulting and now, with Pangea3, legal managed services, will allow EY to create even more custom services to help clients tackle their most pressing challenges,” said Eric Laughlin, Managing Director, Legal Managed Services, and Ernst & Young LLP.
Moneycontrol News
first published: Jun 3, 2019 07:38 pm

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