05 June 2019 at 09:18 BST

EY grows its in-house legal offering

Acquisition by big 4 firm of Pangea3 Legal Managed Services extends services offered to in-house legal departments in over 80 jurisdictions.

The expansion strategy comes within a year of the firm acquiring its ABS licence from the Solicitors Regulation Authority Bocman 1973

EY has closed the acquisition of the Pangea3 Legal Managed Services (LMS) business from Thomson Reuters. The firm says this deepens the firm’s resources to help companies modernize their law departments

Transforming legal departments

Together with the recent acquisition of Riverview Law, this means that EY says it is the first organization with service offerings including legal function consulting, LMS and legal technology in addition to legal advisory services where permitted, in more than 80 jurisdictions. With Pangea3, more than 1,100 legal project managers, services professionals and technologists join EY, bringing the total number of EY Law professionals across the globe to 3,500. The acquisition will enhance EY technology-enabled LMS in the three core areas of contract life cycle management, regulatory risk and compliance, and investigations. Kate Barton, EY global vice chair - tax, says “Companies are looking to transform their legal departments. Cutting-edge technology, processes and the right people that can integrate legal functions into the business more holistically are key to this transformation. This acquisition deepens the EY bench of skilled resources to help companies modernize their law departments and arrive at the optimal operating model.” Eric Laughlin, managing director, legal managed services, Ernst & Young LLP, adds, “The combination of legal function consulting and now, with Pangea3, legal managed services, will allow EY to create even more custom services to help clients tackle their most pressing challenges.”

“Follow-the-sun”

Pangea3 was the original pioneer in the alternative legal services space. Pangea3 has grown significantly within Thomas Reuters and has 15 years of experience, operating out of eight centers worldwide. It boasts deep technology experience, multi-lingual capabilities and a “follow-the-sun” model, which supports legal workflow and quality control.  Jeff Banta, EY global law co-leader, says “In addition to reducing costs and driving efficiencies, legal departments recognize that the future lies in aligning closely with broader business transformation. Through the acquisition of Pangea3, EY Law services are well positioned to leverage broad professional services experience to create a consistent, market-leading offering across the globe that will shape the legal functions of the future.”

 
   
 
 
 

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