Singapore-based law firm Rajah & Tann Singapore’s technology unit, Rajah & Tann Technologies (R&T Technologies), has acquired e-discovery startup LegalComet to boost its legal services delivery, it said in a statement on November 7.
The acquisition will enable Rajah & Tann Singapore to be among the first in Asia to launch a full service e-discovery practice, it said. R&T Technologies is the law firm’s new vehicle, offering multi-disciplinary solutions including data breach readiness and response, cybersecurity, a virtual law academy, and other legal-tech services and solutions.
No financial details of the deal were disclosed.
Also based in Singapore and founded by Michael Lew, LegalComet provides complementary forensic technology services which includes data acquisition and preservation, recovery of deleted data and passwords, cyber breach investigation, as well as mobile and cloud forensics.
“R&T Technologies recognises that advances in technology have enabled lawyers to do many mundane, repeatable tasks at incredible speed and accuracy. Michael and his team at LegalComet will help R&T Technologies to make a leap forward in delivering legal-tech services and solutions to clients across the region, and in strengthening our market position,” said R&T Technologies director Rajesh Serrnivasan.
The startup comprises a team of e-discovery consultants, legal-tech lawyers as well as a data science advisor, altogether having a combined experience of over 40 years in legal-tech advisory services and solutions.
“The legal industry is traditionally seen to be slow to embrace technological innovation because a lawyer’s competitive edge is supposedly built on his or her ability to consume, synthesise and analyse vast amounts of complex information; so it is refreshing and exciting to be part of a leading law firm that believes technology in general and artificial intelligence in particular, can work with lawyers to achieve the high-value outcomes for clients. We are confident that the expertise and experience that the LegalComet team has built up over the years will help Rajah & Tann to also be at the cutting edge of technology,” said Lew.
The e-discovery market in Asia is said to be poised for strong growth. Based on a 2017 report by US research firm Global Industry Analysts, the worldwide e-discovery market is expected to be worth $11.6 billion by 2020, with much of the growth coming from Asia Pacific. Between 2015 and 2020, the region is expected to have a compound annual growth rate of 22.5 per cent, making it the fastest in the world.