Legal, compliance and risk management software provider Mitratech has acquired document automation vendor HotDocs from SaaS legal practice management system provider CARET.
HotDocs – which started out life as CAPS but was rebranded as HotDocs in 1993 – was one of the pioneers of legal document automation. It was acquired in 2017 by AbacusNext, which merged with Caret Legal and rebranded at CARET in February 2023.
CARET says that it will retain the exclusive legal practice management integration with HotDocs.
“When you think of the brand that’s most trusted for streamlining the complexity of document production, you think of HotDocs,” said Mitratech’s CEO Mike Williams. “These capabilities — alongside Mitratech’s premier matter management platform, TeamConnect, and leading-edge workflow automation [TAP] — will deliver the market’s most comprehensive enterprise legal management capabilities to clients and partners around the world. It’s something that customers have been asking for, and a unique combination of functionality that we’ll be the first to provide.”
This may seem a strange time to divest HotDocs but CARET said that it will make way for it to accelerate its investment in its AI capabilities.
CARET’s CEO, Keri Gohman said: “Technology has always been the great enabler, allowing organizations to punch well above their weight. That has never been more evident than it is today as firms look for solutions to better compete in a marketplace undergoing a significant transformation.”
Gohman said the company had established HotDocs as the category leader for simplifying complex document creation for large enterprises, and that Mitratech would be the ideal home for it to achieve its next phase of growth.