Fastcase, vLex merger accelerates investment into legal AI

FILE PHOTO: A gavel is seen on legal books in Washington, D.C., U.S., May 14, 2021. REUTERS/Andrew Kelly

(Reuters) - As artificial intelligence pushes deeper into the legal industry, Fastcase and vLex are merging in a deal the legal research companies said Tuesday will speed up the creation of AI tools for lawyers.

London-based private equity firm Oakley Capital and Bain Capital Credit, part of global investment firm Bain Capital, are investing an undisclosed amount into the combined company, which will be named vLex Group.