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Leading law firm Allen & Overy has announced the spin-off of its online legal information business, aosphere, in a strategic deal with London-based private equity firm Inflexion and U.S. investment firm Endicott Capital. This move signifies a significant shift in the legal landscape, marking aosphere’s transition into a standalone entity. While the financial details of the transaction remain undisclosed, both Allen & Overy and Inflexion have confirmed the profitability of this legal risk and compliance management business, which has served over 700 “blue-chip” clients for over two decades.
A New Chapter Unfolds
As Allen & Overy takes a meaningful step towards its future, this separation of aosphere comes in anticipation of the firm’s merger with New York-founded law firm Shearman & Sterling. The merger, approved by the partnerships at Allen & Overy and Shearman, promises to reshape the legal industry; however, the announcement regarding aosphere doesn’t delve into details about this impending union.
The Genesis of aosphere
Established by Allen & Overy in 2002, aosphere has steadily evolved into a reputable player in the online legal analysis realm, providing subscription-based services to a diverse clientele. Among its clientele, the unit caters to an impressive array of financial institutions, asset managers, and corporations, offering expertise in compliance topics such as financial derivatives, cross-border marketing, shareholder disclosure statements, and data privacy.
Seizing Opportunities in Regulatory Complexity
Commenting on the deal, David Whileman, partner and head of partnership capital at Inflexion, emphasized the increasing demand for efficiency in legal spending due to heightened regulatory scrutiny and complexity. This transformational partnership aligns with the industry’s evolving dynamics, making legal services more adaptable and responsive to the growing needs of businesses. The collaboration between Inflexion and Endicott Capital positions aosphere to expand its operations in the United States and explore potential acquisitions, unlocking new horizons for the entity.
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Allen & Overy’s Diversified Ventures
Allen & Overy’s commitment to innovation and adaptation is not limited to aosphere alone. As a global legal powerhouse boasting nearly 3,000 lawyers, the firm has diversified its portfolio with alternative business lines. These include a consulting business, a flexible legal staffing platform, and a technology innovation hub. By fostering a culture of innovation and exploring emerging opportunities, Allen & Overy demonstrates its commitment to staying at the forefront of the legal industry.
Inflexion, known for its recent buyout of DWF Group, a prominent British law firm, and business services provider, reaffirms its strategic investments in the legal sector. This partnership with aosphere is another significant move in the evolving legal services landscape, poised to redefine how legal information is accessed and managed in the modern era.
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