Canadian legal software leader Clio has announced a $1 billion cash-and-stock acquisition of vLex, a global legal intelligence platform, marking a major move into AI-powered legal services. The deal follows Clio’s $900 million funding round last year, which pushed its valuation to $3 billion.
By acquiring vLex — known for its expansive legal data and proprietary AI tool, Vincent — Clio gains access to one of the industry’s richest legal content libraries. The acquisition positions Clio to compete directly with LexisNexis and Thomson Reuters by embedding advanced AI into its core offerings, which include billing, document management, and payment tools. Clio now reports $300 million in annual recurring revenue as it expands further into the practice of law.
