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Thomson Reuters Corp (3)
Symbol TRI
Shares Issued 450,551,593
Close 2025-06-30 C$ 273.84
Market Cap C$ 123,379,048,227
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Globe says Thomson Reuters sees new competitor Clio

2025-07-02 07:33 ET - In the News

The Globe and Mail reports in its Tuesday edition that legal-software company Clio has made its second big acquisition this year, paying $1-billion (U.S.) for vLex LLC, maker of an artificial-intelligence tool that keeps lawyers from accidentally citing fake court rulings. The Globe's Sean Silcoff writes that the deal expands Clio, based in Burnaby, B.C., which sells practice management software to lawyers, into a new area and for the second time in 2025 doubles its potential market. It also pits Clio (officially Themis Solutions Inc.) against heavyweight rivals: Canadian legal software giant Thomson Reuters and Relx PLC's LexisNexis unit. The acquisition, Clio's sixth, brings "the business of law and the practice of law capability under one roof," chief executive officer Jack Newton said. "We are reforming the company and reshaping it with AI at its heart." Clio said Monday it had signed a definitive agreement to buy Barcelona-based vLex from European private equity firm Oakley Capital for stock and cash. Clio won out over at least one other bidder, San Francisco-based Harvey, which last week announced a strategic alliance with LexisNexis. Clio and Harvey are both worth billions of dollars based on recent financings.

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