The feeding frenzy continues: Dayton's LexisNexis has announced this morning that it has acquired Interface Software Inc. -- the Oak Brook, Ill. company that makes InterAction software. InterAction is "client relationship management" (aka CRM) software, for legal and professional services funds. This follows the recent news that Wolters Kluwers has bought San Francisco's Summation Legal Technologies (see below).
Lou Andreozzi, CEO and president of the company's North American Legal Markets division, says the "acquisition reinforces our ongoing commitment to provide law firms and other professional services organizations with a complete portfolio of products and services that help them manage their businesses for growth and a better return on investment."
Lexis' parent, Reed Elsevier, will acquire all outstanding shares of the privately held company, it says. The current officers, management team and employees will remain, as usual, terms were not disclosed.
This is an interesting development, especially because use of CRM software is pretty much a litmus test as to the firms that are moving to a "corporate" model of operation, from the traditional "eat what you kill" mode of operation. Many traditional lawyers resist CRM software, fearful that it will force them to disclose client information that they would rather horde. But savvy firms and lawyers recognize that, like the Beatles, the whole is more than the sum of the parts -- and that sharing information ultimately gives everybody more power and the ability to serve clients "better faster cheaper."
December 13, 2004 | Permalink
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