Karnov Group acquires Danish Legal Tech start up Onlaw ApS
Today, the 24th of February, Karnov Group has finalised the agreement to acquire the Danish Legal Tech start up, Onlaw ApS. The acquisition is part of Karnov Group’s strategy of establishing a broad technology platform that creates increased relevance and efficiency for professionals working with legal information.
Onlaw provides intelligent applications that make the quality and collaboration around legal documents easier and more efficient. Currently, Onlaw is mainly focused on marketing and further developing their Microsoft Word plug-in, Onlaw Link, which automatically assigns hyperlinks to legal references created in Word thus enabling users to work and collaborate more efficiently on legal documents and adding certainty that correct legal references are located and used.
Onlaw ApS will be fully integrated into the Karnov Group company by a legal merger. The Onlaw products will be marketed through Karnov Group Denmark and Norstedts Juridik.
The transaction is based on a 5-year revenue share and earn out agreement. The revenue will marginally impact the Karnov Group results in 2021, with full effect from 2022
Karnov Group CEO, Flemming Breinholt:
‘We see very interesting opportunities in combining the technology from Onlaw with the extensive content of Karnov Group. The acquisition perfectly fits the Karnov Group strategy of introducing targeted features on top of the research platforms, increasing the accessibility and value of the content and insights we provide, and we look forward to realising the potential of the collaboration with Jens'
Co-owner and CEO of Onlaw ApS, Jens Madsen:
‘Bringing Onlaw into the Karnov Group product portfolio fits hand in glove with our original mission of making the work with legal information easier and smoother. Through access to Karnov Group’s unigue collection of legal sources as well as unique expertise, we will be able to develop products that we previously only dared dream about.’
Jens Madsen, Co-owner and CEO of Onlaw Aps will be joining Karnov Group with the responsibility of further developing the application to be market ready for the Karnov Group legal research solutions. The integration of Onlaw Link to the Karnov Group product suite will be ready during 2021, upon which it will be offered as an add-on to the Danish customers and users. Secondly the development for Swedish product portfolio will be initiated. In time, collaboration with other Karnov Group affiliated brands will be investigated.
For more information, please contact:
Karnov Group
Luise Gramkov de Kort, Group PR & Branding
Telephone: +45 22 55 77 31
Email: luise.dekort@karnovgroup.com
Onlaw ApS
Jens Madsen, Co-owner and CEO
Telephone: +45 60 61 59 51
Email: jens@onlaw.dk
The information was submitted for publication on 24 February 2021, at 15:00 p.m. CET.
Onlaw ApS was founded in Copenhagen in 2017 with the mission of democratising access to legal information. By making use of machine learning and other technologies, Onlaw aims to develop intelligent analysis tools for legal professionals that decrease manual resources and make the day to day work more efficient.
Karnov Group is a leading provider of mission critical information in the areas of legal, tax and accounting, and environmental, health and safety in Denmark and Sweden. With brands such as Karnov, Norstedts Juridik, VJS, Notisum, Legal Cross Boarder, Forlaget Andersen, LEXNordics and DIBkunnskap. Karnov Group delivers knowledge and insights, enabling more than 60,000 users to make better decisions, faster – every day. With offices in Copenhagen, Stockholm, and Malmö, Karnov Group employs around 240 people. Net sales in 2019 amounted to SEK 757 M. The Karnov share is listed on Nasdaq Stockholm, Mid Cap segment under the ticker “KAR”. For more information, please visit www.karnovgroup.com.
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