Litera Microsystems, the leading provider of end-to-end document lifecycle solutions to the legal and life sciences industries across the globe, to receive an investment from private equity firm Hg. According to the announcement, the company will utilize the funds to continue to expand globally. However, terms of the transaction are not disclosed. Based in Chicago, IL, Litera has built a leading suite of legal document productivity applications, delivered as an end-to-end platform to over 1,300 organizations worldwide.
Hg, which based in London, Munich, and New York, is a specialist private equity firm focused on software and service businesses, committed to developing businesses that change the way it all do business, through deep sector specialization and dedicated operational support. According to the reports, the company has known Litera for several years, recognizing it as a business solving mission-critical workflows for its customers, leading to strong recurring revenues and displaying the same growth characteristics as many others in the Hg portfolio. The investment will be reportedly made from Hg’s Genesis 8 Fund which will be 54 percent invested across 7 software and service businesses.
Litera CEO Avaneesh Marwaha said that “Over the last few years, Litera has experienced great success in creating a platform for long term growth. As we looked for the next partner to align the business with, Hg stood out.” According to him, “Leveraging Hg’s support and their experience in software, legal, life sciences, and global expansion will enable Litera to reach new levels of success with confidence, whilst also allowing us to further invest in our people and culture. We look forward to partnering with Hg and developing new products and capabilities to continue to meet the evolving needs of our customers.”