Thomson Reuters purchased Pangea3 in late 2010. For those unfamiliar, Pangea3 is a legal process outsourcing firm based in New York, Mumbai and New Delhi that provides services in legal document review, corporate transactions, intellectual property and risk management and compliance. We asked Tony Abena, president and general manager of Global Legal Solutions at Thomson Reuters, Legal, for the straight story on what Pangea3 brings to Thomson Reuters, trends in legal process outsourcing and how corporate clients can benefit from working with firms like Pangea3.
Editor: Tony, in November 2010 Thomson Reuters Legal purchased Pangea3. As a legal information provider, this is quite a shift.
Tony Abena: It's really an extension of the value proposition we've provided to our clients for a long time, that is, to help them manage their operations more efficiently and effectively. Legal process outsourcing adds a vital strategic complement to our portfolio of specialized information and workflow offerings. We will now bring to the legal marketplace a responsive, high-quality, transformative resource for a broad range of legal support work. This is particularly important as general counsel, and the legal profession as a whole, adjust to the realities of the "new normal" where efficiency, quality and responsiveness are paramount.
Editor: There was some speculation that this acquisition places Thomson Reuters in direct competition with the customers you serve. Is this an accurate response?
Tony Abena: I don't think so. We have seen a significant shift from legal publisher to information provider in the past decade. And, as the legal industry continues to change, we must serve our varied clients in the legal profession with the tools that best support their work. This acquisition represents a unique opportunity to build on our current law firm and corporate counsel general offerings by expanding into the service space. The LPO marketplace is growing rapidly for a reason - our customers in corporations and law firms see the value of sourcing portions of their work to a high-quality, lower-cost provider.
Editor: How does this actually fit into your product offerings to corporate counsel?
Tony Abena: In the past three years all businesses have looked at pricing models quite differently, and in the legal industry we obviously are as well. We are focused on helping law departments and law firms deliver quality legal services with cost predictability and efficiency, which makes Pangea3 a particularly attractive business in this economic environment. Pangea3 will overlay key customer segments, including our corporate general counsel, to align us more closely to customer workflow; IP; governance, risk and compliance; and law firm businesses. Predictability and quality are really key: Pangea3 uses Six Sigma processes and tools to offer legal document review, corporate transactions, intellectual property and risk management compliance. So, for general counsel, our Pangea3 services will offer another option to consider for specific business needs.
Editor: Thank you, Tony, for your insights.For more information about Pangea3, you can go to http://www.pangea3.com.