Austin-based legal software maker Mitratech is continuing its buying spree with the purchase of a UK-based company, its fifth acquisition in the past year.
Mitratech said it has purchased Hitec Laboratories, which is based in the United Kingdom and has U.S. offices, for an undisclosed price.
Mitratech's software is geared toward larger companies that have an office of general counsel. The software helps manage records around legal matters, such as tracking documents or handling invoicing and billing.
The company has more than 1,200 corporate customers in 150 countries. They include General Motors, Amazon, Monsanto, Shell Oil and J.P. Morgan Chase.
Mitratech, which was based in Los Angeles, opened an Austin office in 2012 to tap into the talent base and tech community. It has since moved its headquarters to Austin.
Hitec specializes in governance, risk and compliance software aimed at helping companies reduce risks and costs and increase efficiencies.
Mitratech CEO Jason Parkman said companies are making significant investments in technology to oversee policies and processes, but the result is often a collection of disparate processes and disconnected technology products.
"With the addition of Hitec's innovative products and market expertise, Mitratech is positioned as the global player to bring all of the capabilities across legal, compliance and operational risk together in an end-to-end software platform," he said.
Mitratech is a wholly owned subsidiary of TA Associates, a global legal information services company.
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