Chicago, USA, February 1st 2022 – BigHand, a leading provider of operational and financial products for law firms, today announced it has acquired Iridium Technology.
BigHand and Iridium have been offering complementary products and in coming together, now offer powerful insight and data into law firms financial management, operational management, resource optimization and business development. “Law firms are under continuous pressure to improve their efficiency while also growing their profitability. Our goal has always been to offer our clients the best solutions and support, that work for them- so when it comes to M&A, we’ve been very selective. We want to join forces with organizations that align to our goals and the goals of our customers. There has to be an added value to our customers and that’s what makes this acquisition very exciting. The combined organization now gives our clients the opportunity to access a vast amount of data within their firms that will enable them to move from the practice of law to the business of law”, says Sam Toulson, Chief Executive Officer of BigHand.
Rob Stote, Managing Director of Profitability at BigHand continues “More specifically for our financial product set, BigHand and Iridium together now offer a complete range of BI, profitability financial management, time recording, matter pricing and analytics solutions to the legal industry. The two teams working together will ensure law firms get enhanced access to extensive domain expertise and feature-rich products.”
BigHand’s product lines are extending to include the Iridium BI, Intellistat, Steere, and SmartTime product families. This acquisition means BigHand can offer law firms leading legal business intelligence and financial applications.
“Martin and I have had a personal mission to find a “forever home” for Iridium that would result in continued progress for our team members, our clients, and our products” says Tom Jones, Chief Executive Officer of Iridium Technology. “I have known members of the BigHand team for years and the cultural fit between Iridium and BigHand is perfect. We share the same values on client service, technical excellence, caring for team members and giving back to our communities. Martin and I look forward to continuing work with the Iridium team members, clients, and products as well as the BigHanders”.
The full Iridium team are joining the BigHand team effective today. The combined organization now has over 3600 clients worldwide and 350+ employees. “I’m so excited to welcome our newest BigHanders. Throughout the whole process, I’ve been really impressed with how both organizations have come together and identified so many opportunities for growth and improvement. Together, we will achieve big things” concludes Sam Toulson.
Financial details for this transaction were not disclosed.
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