EY Abogados and A&0 Shearman advise on the acquisition of vLex for $1b

Canadian legal software firm Clio has reached an agreement to acquire vLex, a global legal intelligence platform, from Oakley Capital. The transaction, which values vLex at $1 billion, makes the company one of the few tech unicorns to emerge from Spain.

Oakley Capital, which acquired vLex in 2022, supported the company’s international expansion, including its entry into the US market with the purchase of Fastcase, and the development of artificial intelligence-based tools such as Vincent, launched in 2024. As part of the agreement, Oakley and the founders of vLex will partially reinvest in the combined company to support its growth in this new phase.

Clio, for its part, is a global leader in technology solutions for law firm management, with more than 200,000 users in over 130 countries. The integration of the two companies seeks to create a comprehensive platform for the practice and management of law, combining management software, legal research and AI capabilities.

Advisors

EY Abogados advised both parties on the tax and transactional aspects of the deal. On behalf of Clio (buy-side), EY provided advice on tax due diligence, structuring, SPA and W&I insurance. The team was led by Manuel Paz, partner, and included Ágatha García (senior), Patricia Sánchez (junior), Lucía de Lorenzo Gómez (senior manager) and Guillermo Ruiz (partner). On the seller side, EY advised Oakley Capital and the other shareholders on sell-side tax due diligence and the tax structuring of the divestment. The team was led by partner Leire Arlabán, with the collaboration of Henar Ramos (senior manager), Belén Dueñas (senior) and Pelayo Buesa (junior). EY teams in the United States and the United Kingdom also participated, coordinated by the Spanish team.

A&O Shearman acted as legal advisor to Oakley Capital in the transaction.