One of Spain’s leading independent law firms, Pérez-Llorca, has selected Luminance for accelerated document review as part of its expanding M&A practice. This marks another significant contract win for the fast-growing London-based artificial-intelligence start-up.
Pérez-Llorca will use Luminance’s machine learning technology to improve the efficiency of its M&A due diligence.
Luminance, developed from Ph.D. research at Cambridge University, harnesses proprietary machine learning algorithms to sort, cluster and classify legal documents, giving lawyers fast insight into a transaction. Automatic anomaly detection pinpoints key opportunities and risks within the data room, while extensive collaboration tools streamline the process from start to finish.
Pérez-Llorca are leaders in high-end M&A and are using the Luminance platform to augment their work on complex, international transactions. The firm expects the technology to add significant value to their practice, enabling lawyers to focus on higher value tasks and prioritise review where it matters.
“Artificial intelligence technologies like Luminance are leading the way in how due diligence and other contract review processes are being done today,” said Alejandro Osma, Partner at Pérez-Llorca, “We see adopting Luminance as a way to strengthen our offering to clients by getting through a data room in hours rather than days.”
“This is a significant client win for us, marking the third Spanish law firm to start using Luminance. Pérez-Llorca’s M&A team are using Luminance to examine both English and Spanish-language documents, demonstrating the totally language-agnostic nature of the technology,” said Emily Foges, CEO of Luminance.
Luminance launched in September 2016 and is currently live in 12 countries, having completed over 110 client transactions globally.
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