Reuters reported last February (see post) that Ontario Teachers’ Pension Plan was seeking a buyer for Mitratech. It was reported today, however, that Ontario Teachers’ Pension Plan has obtained $2B financing from a group of credit investors led by Blackstone and including Antares Capital, replacing its old lender group that included Golub Capital, UBS, Barclays, and Deutsche Bank that provided $780M of financing allowing for the majority acquisition in 2021 by OTPP from HG. See here for information on this current financing deal. With financing like that, I predict more system acquisitions by Mitratech are coming.
Category: Ebilling Vendor Systems
Brightflag Acquired by Wolters Kluwer
Just read that Wolters Kluwer has acquired ELM vendor Brightflag for $480M. See here for more on the acquisition.
As ever, the legal ebilling world continues to amaze with acquisitions in this space. One can only wonder what else is in store…
Mitratech For Sale?
Reuters reported today that Ontario Teachers’ Pension Plan was exploring a $4B sale of Mitratech. For more information, see their posting here.
Many New Ebilling Systems Available
Just a quick note to advise that our updated Law Department ELM Solutions Resource Room page includes numerous new systems. The legal ebilling space is growing again!