Baker McKenzie Advises Thomson Reuters in Sale of Majority Interest in Elite, Creating Independent Legal Tech Company

Thomson Reuters and TPG announced that they entered in a definitive agreement for TPG to acquire a majority stake in Elite from Thomson Reuters, valuing the business at approximately US$500 million. The Elite business provides financial and practice management solutions to the world’s leading law firms, helping customers automate and streamline critical finance and accounting workflows. The transaction involves the carve-out of the Elite business in several jurisdictions globally.

Led by Corporate Partners Lisa Fontenot (Palo Alto) and Nancy Hamzo (Toronto), Baker McKenzie represents Thomson Reuters. The core team includes:

Corporate: Gwen Karanadze (New York), Jeremy Poore (Chicago), Evgeniya Shagarina (Toronto)
Tax: Kai Kramer (Houston), Lane Morgan (Dallas)
Intellectual Property: Cynthia Cole (Palo Alto), Bryce Bailey (Dallas)
Employment and Benefits: Carl Richards (London), Cecilie Justesen (London)