June 26 (Reuters) - Thomson Reuters Corporation (TRI.TO) said on Monday it had agreed to acquire Casetext, a California-based company that provides technology solutions for legal professionals, in a $650 million all-cash deal.
Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments, Thomson Reuters said on Monday.
The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters.
Casetext was granted early access to OpenAI's GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professionals.
Reporting by Bharat Govind Gautam in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons:
Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi
Organizations:
Thomson Reuters Corporation, Thomson Reuters, Thomson
Locations:
California, Casetext, Bengaluru