Mitratech Signals New Future for Legal, Compliance and Operational Risk Management With Its Acquisition of CMO Software, an Industry-Leading GRC and EHS Platform
AUSTIN, TX--(Marketwired - June 21, 2016) - Mitratech, the market-leading provider of Enterprise Legal Management (ELM) solutions, announced today it has acquired CMO Software. CMO Software is a recognized market leader in Environment, Health and Safety (EHS) & Governance, Risk, and Compliance (GRC) solutions for organizations around the globe. With a robust web-based platform, and mobile solutions for both iOS and Android, CMO Software is an industry-leading integrated technology platform with extensive workflow and configuration capabilities.
Mitratech's acquisition of CMO Software is the company's fourth in the past year; Mitratech acquired Bridgeway Software in July 2015, CaseTrack in August 2015, and Viewabill in March 2016.
For more than 30 years, Mitratech's mission has been to provide the technology and tools that enable the legal department to be the best-run function in the organization for companies of all sizes and for industries around the globe. We are excited to be a part of the continued expansion of that mission as the market and client needs continue to expand as well. The changing global environment has created an opportunity to go even further to erase the traditional barriers between legal processes and regulatory, compliance, and risk management.
"Risk, its mitigation, and the costs associated with both have become material issues for companies, whether that risk is legal, regulatory, or related to health and safety," said Mitratech CEO Jason Parkman. "We're staking a position as the company that brings this all together in a total end-to-end solution for the industry. The acquisition of CMO Software allows Mitratech to not only meet this growing market need, but to lead the market where data silos and disconnected business processes are costing companies billions each year. Our solutions will allow operational executives to better identify, manage, and mitigate the issues that keep them up at night, and will provide unprecedented visibility and predictability for the C-Suite."
CMO Software is highly complementary to Mitratech's fast-growing global customer base of large multinational and middle market corporations representing more than 750 companies and 11,000 law firms spanning the Americas, EMEA and APAC.
"With Mitratech and CMO together, we can offer a total risk management solution: helping our clients reduce risk and costs, whether legal, regulatory, or operational -- with visibility, predictability, and control," stated Jim Darragh, CMO Software's CEO. "We are thrilled to be a part of their long-term vision for the global enterprise risk management market."
Within a global environment of increasing regulation and higher stakes for non-compliance, the acquisition of CMO Software allows Mitratech to expand their abilities to enable corporations in their efforts to manage risk.
The financial terms of the deal are not being disclosed.
Mitratech, back-to-back recipient of Legaltech News' Innovation Award for Case/Matter Management System, is the market-leading provider of Enterprise Legal Management (ELM) solutions for more than 750 global legal departments of all sizes, representing 6 of the Fortune 10, almost 40% percent of the Fortune 500, and over 100,000 users in over 150 countries. Mitratech's award winning products are also used by over 11,000 of its clients' external partners, including 99 of the Global 100 and 100 percent of the Am Law 200 law firms. Mitratech's portfolio of ELM software solutions, which have received Market Leader designations from Hyperion Research, offer end-to-end matter management, spend management, e-Billing, legal hold, contracts management, GRC, and reporting solutions. Clients are able to prove demonstrable value creation for their organization by automating legal workflows, improving business outcomes through actionable data and insight, increasing collaboration with external partners, and reducing overall legal spend. To learn more, visit www.mitratech.com.
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