Transactions

Marks Baughan Advises Leading Spend Management Software Provider, Quovant, on its Sale to Mitratech

Quovant Adds Advanced Spend Analytics and Proven AI Capabilities to the Mitratech Suite of Solutions

Mitratech, the leading provider of legal and compliance software, is pleased to announce that it has acquired Quovant, a premier solution for spend management, advanced analytics, and legal bill review.

Quovant has more than two decades of industry expertise and best practices that enable customers to simplify and add transparency to legal bill review processes. Through Quovant’s expert review services and technology, invoices are centralized and reviewed against an organization’s specific billing guidelines, which helps to drive improvements in efficiency and compliance. The Quovant software also delivers advanced analytics and artificial intelligence (AI) categorization capabilities.

“We are thrilled to be bringing Quovant into the Mitratech suite of solutions and services,” said Mike Williams, CEO of Mitratech. “One of the paramount goals at Mitratech is to strategically bring together technologies that span the entire legal and risk spectrum. By integrating Quovant, our customers will now have unprecedented spend visibility across their organization in one, integrated platform.”

Quovant’s customers include over 20% of the Fortune 50 and seven of the top 10 healthcare systems in the U.S.

“Quovant was founded to uniquely optimize legal professionals’ eBilling and invoice review processes while measuring performance and providing deeper analytics on law firm compliance and benchmarking,” said Bill Horne, CEO of Quovant. “Integrating our technology and spend analytics expertise into Mitratech’s platform provides organizations and their legal partners with unparalleled, next generation insights, productivity, efficiency and collaboration.”

Marks Baughan served as exclusive financial advisor to Quovant.


For more information on this transaction, please contact:

Bill Takeuchi
610.616.3296
wtakeuchi@marbau.com

Ed Murtha
610.365.7283
emurtha@marbau.com

Mike Doulong
610.643.4618
mdoulong@marbau.com


About Marks Baughan Securities
Marks Baughan provides investment banking services to growth companies. Our clients are software, technology-enabled services and data-intensive companies seeking shareholder liquidity or growth capital. We work tirelessly alongside our clients and excel at defensible positioning and disciplined processes that maximize shareholder value. Our professionals come from senior positions at bulge-bracket firms, giving our clients access to the relationships and experience that come from our years of interaction with the top executives and investors in companies in our fields. Our clients receive top-flight advice throughout any advisory relationship, because our boutique approach allows our senior advisors to stay deeply involved with each client on a continuous basis. No handoffs to junior staff. No preferential client relationships. No conflicts of interest.

For additional information on Marks Baughan, see www.marksbaughan.com.

About Quovant
Quovant has helped some of the world’s most recognized brands – including over 20 percent of the Fortune 500 analyze outside legal spend and law firm performance. Quovant’s suite of software and services helps streamline matter (or claims) management, invoice review and payment processes while uncovering actionable insights and analytics that lead to more informed, data-driven decisions, operational efficiencies, and cost savings. Clients can choose from a turnkey, cloud-based legal spend solution or tap Quovant’s experienced team powered by proven technology to do it all for them.

For additional information on Quovant, see Quovant.com.

About Mitratech
Mitratech is a proven global technology partner for corporate legal, risk & compliance, and HR professionals seeking to maximize productivity, control expense, and mitigate risk by deepening operational alignment, increasing visibility, and spurring collaboration across their organization. That helps them rise to the challenge of serving the evolving needs of the modern, dynamic enterprise.

For additional information on Mitratech, see Mitratech.com.