EY buys out Thomson Reuters legal services
Big 4 firm EY has acquired Pangea3 Legal Managed Services from Thomson Reuters. This deal continues the expansion of EY Law Practices.
During its time at Reuters, Pangea3 grew to more than 1,000 legal professionals and operated across three continents. EY hopes the acquisition will improve its legal services offering, particularly when it comes to lifecycle management, regulatory risk
This acquisition follows a pattern. EY bought Riverview Law in August 2018 and appointed tax specialist Chris Price CEO of the practice. The firm now has more than 2,400 lawyers active in 84 countries.
The Big 4 have each expanded into legal services over the last several years. PwC was the first to pursue an alternative business structure license in 2013, but EY and KPMG soon followed. Deloitte caught up in 2018.