AUSTIN, Texas, May 10, 2021 /PRNewswire/ -- Mitratech, a leading provider of legal and compliance software, is pleased to announce the acquisition of ContractRoom, a developer of leading contract lifecycle management (CLM) solutions.
The acquisition, announced today at the Corporate Legal Operations Consortium (CLOC) Global Institute, further expands Mitratech's proven, end-to-end portfolio of legal and compliance solutions, including Enterprise Legal Management (ELM) products for managing core legal functions, TAP Workflow Automation, and VendorInsight for mitigating third-party vendor risk.
ContractRoom increases staff efficiency, enhances collaboration and speeds the close of agreements. Organizations that deploy ContractRoom are able to realize revenue faster, optimize the financial performance of their existing contract portfolio and mitigate risk by transforming CLM into an asset that improves business responsiveness and results.
"When ContractRoom is combined with Mitratech's proven portfolio of end-to-end solutions, Mitratech becomes the only partner that legal operations professionals need for enhancing collaboration and efficiency," said Mike Williams, CEO of Mitratech. "With our broad portfolio, global footprint and robust digital capabilities, we continue to partner with our customers on their journey to transform their operations with innovative technology solutions."
Mitratech SVP of Product Strategy and Product Management, Justin Silverman, continued, "This addition creates exciting new opportunities for integrations across our solution portfolio to further increase efficiency and control for our clients, and enables innovations in the areas of AI and analytics to empower data-driven decision-making for legal professionals."
"We are thrilled to be joining Mitratech's suite of products and services," said Emil Stefanutti, Co-founder and CEO of ContractRoom. "This agreement brings together two truly innovative legal technology companies with strong business models, attractive portfolios, and long histories of innovation."
About Mitratech Mitratech is a proven global technology partner for corporate legal, risk, and compliance professionals, offering a proven portfolio of end-to-end solutions that spread operational best practices throughout the enterprise, standardizing processes and accelerating time-to-value and helping build a stronger ecosystem. That helps legal and governance, risk and compliance teams rise to the challenge of serving the evolving needs of the modern, dynamic enterprise. For more info, visit Mitratech.com.