In late June, Thomson Reuters announced that it signed a definitive agreement to purchase legal research company Casetext for $650 million in cash.

In a press release announcing the news, Thomson Reuters stressed its commitment to investing “more than $100 million annually on AI capabilities.” It also said that the Casetext acquisition, which comes months after the company launched its generative artificial intelligence-powered legal assistant CoCounsel in March, was part of Thomson Reuters’ larger AI strategy.

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