Silver Lake to Invest in Legal-and-Compliance Software Firm Relativity – deal values about $3.6 billion

Private-equity firm Silver Lake is making a big investment in legal-and-compliance technology company Relativity, the companies said.

The deal, which The Wall Street Journal reported earlier Thursday, values the software maker at about $3.6 billion and will make Silver Lake its largest shareholder, according to people familiar with the matter.

The companies aren’t disclosing the size of the Silver Lake investment, but said the private-equity firm will take seats on Relativity’s board.

Chicago-based Relativity’s software has primarily been used by the legal industry to sift through massive amounts of data in discovery, as the process of gathering information used as evidence is known. It has more than 300,000 annual users in 49 countries.

Relativity Chief Executive Mike Gamson said Relativity plans to use the investment from Silver Lake to continue to expand its core business and improve the artificial-intelligence technology used there and in its communication-surveillance product.

Silver Lake is a global technology investment firm, with approximately $75 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio of investments collectively generates more than $180 billion of revenue annually and employs more than 400,000 people globally. 

Source: Wall Street Journal

Can’t stop reading? Read more