On May 27, 2021, Relativity, a global legal and compliance technology company, announced that it has acquired Text IQ, a Top 100 AI company applying artificial intelligence (AI) to identify sensitive data. Wilson Sonsini Goodrich & Rosati represented Text IQ in the transaction.
Text IQ leverages the latest in unsupervised machine learning, graphical modeling, social network analysis, natural language processing, and deep learning to create AI solutions for the world's largest enterprises to manage and mitigate risks in enterprise data. Text IQ's AI helps to lower the cost and risk of legal privilege review, speed up and increase the accuracy of data breach response workflows, and quickly identify and manage personally identifiable information which are often associated with Global Data Protection Regulation and Data Subject Access Requests.
Relativity's global network of partners that provide project-based support and managed services, including world-class consulting, data management, legal, compliance and consulting services will greatly benefit from this acquisition. Offering Text IQ to Relativity's partner community will provide them with an even stronger AI toolset to deliver more value across the e-discovery lifecycle and solve a wider array of data challenges for their customers.
The acquisition follows an announcement in March of this year that Silver Lake, a global leader in technology investing, had made a substantial minority investment in Relativity to help the company accelerate growth, innovation, and technology differentiation.
The Wilson Sonsini team that advised Text IQ on the transaction includes:
M&A
Rich Mullen
Ross Tanaka
Abby Prithivi
Ryan Cooper
Technology Transactions
Scott McKinney
Barclay Oudersluys
Sarah delos Santos
Privacy and Cybersecurity
Matt Staples
Daniel Chen
Employee Benefits
Michelle Wallin
Michael Klippert
Employment
Rebecca Stuart
Heather Diles
For more information, please see Relativity's press release. Further coverage can be found at Reuters.