Scissero has acquired the managed services team of Robin AI in a move that the company says will create a London-based LegalTech powerhouse.
The combined business is to serve large international clients, including major investment houses, as well as FTSE 100 and Fortune 500 firms.
The deal significantly expands Scissero’s reach, boosting its client base to more than 100 companies, and combines its AI-enabled legal services and specialist knowledge in asset management and capital markets with Robin’s global footprint and established managed services customer base.
It came after reports that the firm cut a third of its workforce after failing to close a planned £38 million funding round.
The business, which has previously been backed by Nik Storonsky and Tom Blomfield, founders of Revolut and Monzo respectively, was listed on an insolvency marketplace.
The acquisition has been described as a natural fit because Scissero’s AI tools, particularly those used for markups on M&A ancillary documents such as NDAs, engagement letters and non-reliance letters, align closely with the services Robin AI already provides.
By bringing the two together, the boosted group will look to deliver a market-leading, tech-enabled legal services platform with greater scale across contract work as well as more complicated legal matters.
The combined business will aim to offer clients enhanced capacity and deeper expertise through a globally scalable, AI-enabled delivery model designed to speed up contract turnaround and improve legal operations.
As part of the transaction, Robin’s managed services leadership team will join Scissero and continue working closely with clients.
Its managed service customers will transition to Scissero without interruption, while gaining access to an expanded suite of technology-enabled legal services.
“We are thrilled to welcome Robin’s exceptional managed services team and clients to the Scissero family,” said Mathias Strasser, CEO of Scissero.
“Robin has built a global reputation for quality, speed and care, and these values strongly align with our own, making the team a perfect fit.
“The AI-enabled legal services market is entering a period of meaningful consolidation, and the UK is exceptionally well placed to lead the next wave of innovation in AI and legal technology.
“We are proud to be taking an early, proactive role in shaping this evolution, bringing together best-in-class talent, advanced technology and scalable delivery.
“Together, we are uniquely positioned to offer an expanded suite of technology-enabled legal services, supported by strong, vertically integrated AI technology, a global footprint and an unwavering commitment to client service.
“As an entrepreneur, lawyer and technologist, I am excited to push our strategy forward with a continued focus on delivering outstanding service to in-house legal teams around the world.”
Richard Robinson, CEO of Robin AI, added: “Becoming part of Scissero marks an exciting new chapter for our managed services team and our clients.
“Scissero’s global capabilities, regulated legal services offering, and market-leading technology platform mean our clients will now benefit from a broader set of solutions while continuing to receive the high-quality service and fast turnaround times they rely on.
“We are confident that Scissero is the ideal home for our managed services business, and we look forward to seeing our team thrive as part of their organisation.”