Thomson Reuters Buys Casetext To Up The AI Game
Portfolio Pulse from Lekha Gupta
Thomson Reuters Corp (NYSE:TRI) has agreed to acquire California-based legal technology provider Casetext for $650 million in cash. The acquisition will complement Thomson Reuters' AI roadmap and build on its recent initiatives, including a planned investment of over $100 million annually on AI capabilities.
June 27, 2023 | 9:10 am
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Thomson Reuters is acquiring Casetext for $650 million, enhancing its AI capabilities and building on recent initiatives.
The acquisition of Casetext will complement Thomson Reuters' AI roadmap and build on its recent initiatives, including a planned investment of over $100 million annually on AI capabilities. This will likely have a positive impact on TRI's stock price in the short term as it demonstrates the company's commitment to expanding its AI offerings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Thomson Reuters has a new plugin with Microsoft Corp's 365 Copilot for legal professionals.
Microsoft is mentioned in the article as having a new plugin with Thomson Reuters for its 365 Copilot for legal professionals. However, this partnership is not the main focus of the article and is unlikely to have a significant short-term impact on MSFT's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20