Law company Elevate today announced the acquisition of Sumati Group, a leading provider of contract lifecycle management (CLM) managed services.
The move expands Elevate’s existing contracts support capabilities globally with over 200 Sumati lawyers and technologists providing contract review and analysis, and CLM managed services on over 20 leading CLM platforms. The deal also adds Sumati’s proprietary software for contract review and analysis to Elevate’s technology arsenal, which was recently expanded by Elevate’s acquisition of enterprise legal AI technology and consulting firm LexPredict.
“The combination with Sumati provides us additional capabilities and capacity to meet growing customer demand for contracts support solutions across the contract lifecycle continuum,” says Kunoor Chopra, VP of Legal Services at Elevate.
“Sumati is the only service provider 100 percent focused on contract management, and merging with Elevate achieves our long-standing goal of being part of a world-class platform and team that can leverage this expertise,” says Prashant Dubey, President and CEO of Sumati.
Pawan Kumar, Sumati’s Chief Operating Officer adds, “Joining forces with Elevate enables our specialized team to bring broader capabilities offered by Elevate to our customers, such as contracts consulting and several adjacent technology-enabled managed services.”
“This move supports our strategy to provide the most comprehensive suite of global legal services to our customers,” says Lokendra Tomar, CEO of Elevate. “By continuing to build out consulting and technology-enabled managed services spanning CLM, M&A, litigation, compliance, legal operations and other areas all under one provider, we are able to help law departments and law firms solve increasingly bigger and more complex problems.”
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