Clio completes the US$1B acquisition of vLex: advisors
Canadian legal software company Clio has completed its US$1 billion acquisition of vLex, a global legal intelligence platform, in one of the largest transactions to date in the legal technology sector. Clio was advised by Osler, Hoskin & Harcourt LLP, Wilson Sonsini Goodrich & Rosati, Gowling WLG and Pérez-Llorca, while A&O Shearman acted for Oakley Capital (the seller). EY Abogados advised both parties on the tax and transactional aspects. Goldman Sachs advised Clio on the financial side, with J.P. Morgan advising vLex. The deal was first reported in July (click to read).
Clio specialises on intelligent legal work platform streamlines workflows. The integration of vLex’ with Clio’s platform aims to strengthen the company’s position in the emerging field of AI-driven legal technology. The acquisition unites Clio’s legal operating system with vLex’s Vincent AI, powered by a global legal database. Together, they aim to form the Intelligent Legal Work Platform, connecting the business and practice of law through AI.
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.
The closing of the deal coincides with Clio’s US$500 million Series G funding round, led by New Enterprise Associates (NEA), which values the company at US$5 billion. The round also includes existing investors TCV, Goldman Sachs Asset Management, Sixth Street Growth and JMI Equity.
Pérez-Llorca’s team is composed of Pedro Fernández, partner, Rodrigo Turcios, Noemí Marqués de Magallanes, and María Rodríguez, from the corporate practice area; Andy Ramos, intellectual property and technology partner, José Suárez, tax partner and Belén Wert, regulatory lawyer.
On behalf of Clio (buy-side), EY Abogados 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 (manager) and Pelayo Buesa (junior). The buyside was also coordinated by Paul Cormack and Sabrina Xie from EY Canada.
On Oakley’s side, legal advisors were partner Íñigo del Val and senior associate Nicolás Sierra.
On the picture, from left to right: Pedro Fernández (Pérez-Llorca), Íñigo del Val (Oakley), Manuel Paz and Leire Arlabán (EY).
