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Relativity acquires Text IQ
Global legal and compliance technology company Relativity has continued its impressive growth by acquiring AI company Text IQ.
Jerome Doraisamy
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The acquisition and subsequent combination, Relativity said in a statement, will enable law firms, enterprises and service providers to “reliably and efficiently identify and manage sensitive and privileged data in an integrated intelligent suite”.
It follows the acquisition of data management software company VerQu in January and securing of a strategic investment from global technology investment firm Silver Lake, as well as the launching of a program via its RelativityOne program for companies to better support social justice and fight racial inequality and the unveiling of its new user interface in September of last year.
Relativity noted that Text IQ’s AI can help lower the cost and risk of legal privilege review, speed up and increase the accuracy of data breach response workflows, and quickly identify and manage personally identifiable information, and that its technology is applied within legal, compliance and privacy departments in most major industries.
The company will work with Relativity to “build a seamless integration between its products while also embedding some of its core capabilities to improve existing AI and ML functionality in RelativityOne and Relativity Trace”.
Relativity chief executive Mike Gamson said: “We’re merely scratching the surface of what the application of AI to our industry can mean. Our customers recognise that while AI offers immense possibility, it must be thoughtfully designed and applied to address use cases that yield specific business outcomes.
“We know that Text IQ’s proven technology, coupled with its incredible team of talented professionals, will be a wonderful addition to Relativity and help us deliver even more value to our customers.”
Text IQ co-founder and CEO Apoorv Agarwal added that most of the industry’s legal and compliance data already live within the Relativity ecosystem, “which adds to our excitement around increasing Relativity’s customers’ access to our AI models”.
“The fusion of our companies and technology will deliver on the promise of AI in a way that our industry has yet to experience all while ensuring that ethical and unbiased AI is at the core of everything that we do,” he said.
Speaking recently to Lawyers Weekly, Relativity APAC managing director Georgia Foster said that the company is continuing to expand its cloud capabilities in the Asia-Pacific region, noting the diversity of opportunity on Australia’s doorstep. Ms Foster also said, in conversation with Lawyers Weekly, that by utilising digital assets more effectively, legal professionals can promote a healthier work/life balance.
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Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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