Thomson Reuters completes $6.5m acquisition of TimeBase

The acquisition was first announced in May this year, when the global legal tech provider signed an agreement to acquire TimeBase for $6.5 million.

This news also follows the launch of the next generation of CoCounsel, Thomson Reuters’ professional-grade GenAI assistant, in five different markets, including Australia, earlier this year.

For over 25 years, TimeBase has enabled legal professionals to search, track, and understand Australian legislation with ease, expanding to New Zealand in 2024. Customers of the platform include corporate legal teams, government departments, academic institutions, and more than half of Australia’s top law firms.

Its key solutions include LawOne, a comprehensive platform with over 167,000 legislative items covering all jurisdictions in one place, and Point-in-Time, which enables users to create a complete legislative picture at past, present, and future dates.

The integration of TimeBase’s legislative research and tracking tools with Thomson Reuters’ proprietary and authoritative content and AI technology will provide Australian customers with access to new and enhanced legal research capabilities, according to Thomson Reuters managing director of Asia and emerging markets Vishal Bali.

“At Thomson Reuters, our global success has been shaped by a strong legacy of driving innovation, growth and customer value – whether through acquisitions, strategic partnerships, or organic investments,” he said.

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“By combining TimeBase’s legislative expertise with our existing capabilities, we will empower Australian legal professionals to navigate complexity with clarity – taking legal research and decision making to new heights. We are delighted to welcome the TimeBase team to Thomson Reuters.”

By joining a global legal tech company, TimeBase will be able to continue to grow, added TimeBase CEO Vanessa Morris.

“Today marks an exciting new chapter for TimeBase employees and customers alike,” she said.

“Joining Thomson Reuters provides us with an unparalleled opportunity to scale the TimeBase vision, and we’re confident that there could not be a better home for our talent and solutions.”