Legal technology is increasingly becoming a buyer’s market, and in-house legal software provider Mitratech is among the largest of companies in the space. On April 4, the Austin-based company announced a majority investment from private equity group HgCapital, which has current investments in 35 companies across Europe and the United States. Mitratech is billing the move as fueling its “global growth strategy.”
While not commenting on the specific terms of the investment, which comes almost a year after its fifth M&A deal of 2016, Mitratech software & technology executive Christ Kraft told Legaltech News that the move places HgCapital as the company’s majority investor. TA Associates, which Mitratech announced in September 2015 as majority investor, will remain a “minority but substantial investor,” Kraft noted.
