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Global technology investment firm Silver Lake is set to become the largest shareholder in e-discovery software solutions business Relativity, and will hold a significant minority stake in the provider.
Silver Lake has entered into a definitive agreement for a strategic growth investment with Relativity, which the latter says highlights its “compelling position” in enterprise data solutions and will support Relativity’s mission to enable customers to organise data, discover the truth and act on it.
“Relativity Trace is used by compliance teams at some of the largest global financial institutions and corporations to proactively detect regulatory misconduct like insider trading, collusion and other non-compliant behavior to help protect against financial and reputational damage,” the business said.
“The partnership will also support ongoing global expansion and reinforce recent major investments in its cloud technology across the EMEA and APAC regions. As part of the transaction, ICONIQ Growth will remain a key investor.”
Representatives of Silver Lake are also set to join the board of directors for Relativity.
Silver Lake’s strategic partnership with Relativity is also expected to help the company accelerate its offerings to law firms where 198 of the Am Law 200 use Relativity and 168 of the Am Law 200 use RelativityOne.
Speaking about the strategic investment, Relativity chief executive Mike Gamson said: “Silver Lake is one of the most respected voices in technology, and their investment in Relativity signifies their confidence in our commitment to innovate and deliver best-in-class technology across the industries we serve.”
“We are fortunate to welcome Silver Lake as our new partner and look forward to their participation on our Board of Directors. This partnership will help us continue to build upon our strong foundation with our dynamic global community of users, customers and partners as we carry out our mission and drive the industry forward,” he noted.
Silver Lake managing partner Jon Osnoss added: “Relativity is not only the clear leader in software for the legal sector, but also an increasingly strategic company in enterprise technology generally, as proliferating data across multiple formats both on-premise and in the cloud, need to be collected and analysed for a wide range of compliance purposes.
“Our investment is designed to accelerate the realisation of Relativity’s potential in partnership with the talented management and employees, founder Andrew Sieja and our colleagues from ICONIQ Growth.”
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
You can email Jerome at:
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Jerome Doraisamy
