Onit Buys SimpleLegal

This article originally appeared on Finsmes.

Onit, Inc., a Houston, TX-based provider of enterprise workflow solutions including enterprise legal management, contract management and business process automation, acquired SimpleLegal, a Mountain View, California-based provider of legal spend, matter and vendor management software.

The terms of the deal were not disclosed.

The acquistion aims to bring next generation legal operations technology to legal departments worldwide.
All product, support and services will continue uninterrupted for all customers and management teams from both organizations will remain intact.

Eric M. Elfman, Onit CEO and co-founder, will serve as the CEO of the merged organization. Nathan Wenzel, previously the CEO and co-founder of SimpleLegal, will serve as the General Manager of SimpleLegal.

Founded in 2013, SimpleLegal provides a legal operations management platform that streamlines for legal departments to manage their matters, track and interpret spend, and collaborate with vendors and law firms. The solution combines e-Billing and spend management, matter management, vendor management, and reporting and analytics into one comprehensive application to optimize legal operations and the management of the entire legal department.

Onit provides enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. With a focus on enterprise legal management, matter management, spend management, contract management and legal holds, the company operates globally serving Fortune 500 companies and billion-dollar legal departments.