NEW YORK, Sept. 1, 2021 /PRNewswire/ — Bodhala, advised by JEGI CLARITY, has been sold to Onit, a portfolio company of K1 Investment Management. This is the fifth legal vertical transaction JEGI CLARITY has advised in the past 18 months.
Bodhala is a leading software provider of AI-powered legal spend analytics, benchmarking and market intelligence. Powered by machine learning and AI, Bodhala transforms messy data into actionable, high-impact insights to help companies save up to 20% on their outside counsel spend. The company, headquartered in New York and founded by attorneys, serves clients across the Fortune 500 and critical services economy industries. Bodhala was named the 2020 Legal Spend Management Innovation of the Year by the LegalTech Breakthrough Awards and One to Watch in Legal Technology by the Financial Times.
With proven results for optimizing spend and the procurement of legal services, Bodhala complements Onit’s commitment to provide the most innovative AI offerings for Onit and SimpleLegal corporate legal customers. The acquisition creates the most complete enterprise legal management solutions on the market, allowing corporate legal departments to evolve analytics into actionable intelligence to optimize outside counsel spend. Onit’s acquisition of Bodhala will give their customers the power to significantly increase savings and value associated with their legal spend.
About JEGI CLARITY
JEGI CLARITY is a pre-eminent M&A advisory firm for the media, marketing, information and technology industries. With a global reach from New York, London, Boston, Sydney and San Francisco, we have closed more than 800 transactions during our 30+ year history. For more information, visit www.jegiclarity.com.
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SOURCE JEGI CLARITY