NetDocuments, the leading secure cloud-based content services platform for law firms, corporate legal teams and compliance departments, announced today, it acquired Closing Room, a deal management application developed by Chapman and Culter LLP to streamline transactional closing processes.
“Closing Room, designed for lawyers, by lawyers, has been stamped ‘safe, valued and proven’ and is a strategic addition to the NetDocuments platform,” said Josh Baxter, NetDocuments CEO. “The acquisition serves to extend our company’s rich partner and product eco-system that is solving for the unique challenges of the legal industry.”
The application, which will be integrated into the NetDocuments platform in the first half of 2019, provides an intuitive way for deal teams to coordinate on closings, automates manual closing binder processes, eliminates the need for physical closing rooms, and drastically reduces the time, cost and effort of producing closing binders for clients and third parties.
A NetDocuments customer, Am Law 200-ranked Chapman and Cutler LLP has deep expertise in the financial transactions space and a firmwide commitment to intelligently leveraging technology to enhance legal service delivery.
“Closing Room has completely transformed the way our firm manages closings,” said Eric Wood, Chapman and Cutler’s practice innovations and technology partner. “In the two years since we launched the application, our attorneys and staff have used it on over 5,000 closing sets, providing the firm with significant efficiency gains and cost savings. We built Closing Room to work seamlessly with NetDocuments, and we’re thrilled to partner with them to deliver this proven technology to the broader legal market.”
“We are really pleased to offer this product to NetDocuments,” said Tim Mohan, Chapman’s chief executive partner. “We launched our practice innovations group three years ago and today, we have a world-class innovations team capable of designing and building market-ready software. NetDocuments provides a wonderful platform to deploy the application to other firms, and we look forward to future opportunities to collaborate on products that can benefit the entire legal industry.”
The announcement of acquisition was made at NetDocuments’ annual customer and partner summit ndElevate in Park City, Utah.
NetDocuments is the leader in secure cloud-based document management, email management and collaboration software solutions. Founded in 1999, with more than 2,500 enterprise customers worldwide, NetDocuments is the trusted cloud-based content services and workflow platform for lawyers and knowledge workers, complete with built-in security, compliance, information governance, disaster recovery, matter centricity, enterprise search, mobility, records management, and collaboration. For more information about NetDocuments, please visit http://www.netdocuments.com.
About Chapman and Cutler, LLP
Chapman and Cutler LLP, founded in 1913, is a national law firm with offices in Charlotte, Chicago, New York, Washington D.C., Salt Lake City and San Francisco. The firm focuses on finance, representing market participants in all aspects of banking, corporate finance and securities, and public finance transactions. The firm consistently develops innovative and practical legal solutions for complex financial transactions. More information can be found at http://www.chapman.com.
Media contact: Jobst Elster, Envision Agency, (850)459-4947