eConveyancer acquires Legal Eye
The AIM listed conveyancing panel manager has this morning announced the acquisition of the well known and respected legal compliance business Legal Eye.
ULS Technology plc the AIM listed parent of eConveyancer this morning announced the acquisition of Legal Eye from Jaunita Gobby.
Commenting on the acquistion, Jaunita Gobby, Managing Director, Legal Eye said:
“Since the inception in 2009, LEL has experienced phenomenal growth and positioned itself as a leader in its sector with a best-in-class team. The acquisition will not only propel Legal Eye Limited but massively enhance our client services and support. ULS is a perfect partner for Legal Eye Limited and we look forward to this next exciting chapter.”
In the press release to the stock market announcing the deal eConveyancer stated that:
“The Acquisition is expected to be immediately earnings enhancing and significantly enhances the Group’s compliance offering. Whilst LEL will continue to offer its current services on an independent basis, the Group will look to leverage its technology skills to enhance LEL’s business, and the Acquisition is expected to generate cross-selling opportunities across the wider Group.
“Legal Eye Ltd was founded in May 2009 by Jaunita Gobby, who will maintain her day-to-day involvement in the business. LEL has been contracted by approximately 350 firms since May 2009 and has approximately 130 active clients, principally solicitors’, today.”
ULS has acquired the entire issued share capital of LEL from Jaunita Gobby.
Commenting on the acquisition, Nigel Hoath, Chief Executive Officer, said:
“As outlined at the time of its IPO, ULS has a clear strategy for growth in the UK, comprising both organic growth and acquisitions. The acquisition of Legal Eye is a very positive move for the Group and will help us accelerate our growth as Legal Eye has already earned a strong reputation in its sector. However, we believe there is a significant opportunity to accelerate its growth and we are excited about how we can help achieve this as part of the Group. ULS’ existing business will also benefit from the acquisition of Legal Eye by enabling us to place a stronger emphasis on quality and risk management as a central element of our eConveyancing value proposition.
“Ultimately, by providing our customers with the highest level of oversight and protection, we expect to advance our leadership position as the market becomes ever more risk and compliance led.”