HotDocs Group Reports Sales Have Doubled Since 2009 Acquisition; Company Plans Multiple Product Launches in 2013
Document generation leader has found success with the launch of a popular new SaaS application and multiple lucrative contracts with banks, law firms, and other enterprises.
Lindon, Utah and Edinburgh, Scotland– January 22, 2013
The HotDocs Group announced today that revenue has doubled since it acquired the core HotDocs business from its long-time parent company LexisNexis in November 2009. HotDocs is the long-established leading document generation platform, allowing law firms and other organizations to transform complex legal documentation into process applications that quickly and accurately generate transaction-ready instruments. HotDocs functionality is available on the desktop, in the client/server environment, and in the cloud.
HotDocs Document Services, a SaaS application targeting small-to-medium sized enterprises and law offices, has been well received in the U.S. as a low-cost subscription option. Document Services will soon be formally launched in the UK and has already secured several wins in the legal and government markets prior to its official launch.
In 2012, three of the largest law firms in the U.K. and one of the top 50 U.S.-based firms have agreed to terms for unlimited use of HotDocs across their enterprises. Three of the four were already HotDocs customers; the fourth is a conversion from a competitive product. HotDocs has also closed significant contracts with two major European banks in the last twelve months and continues to write new business across multiple sectors outside the core legal market.
Capsoft UK, then the largest independent distributor of HotDocs software, acquired the core HotDocs business from LexisNexis in 2009. Since then, Capsoft UK, located in Edinburgh, Scotland, has been renamed HotDocs Ltd., and the business unit acquired from LexisNexis is now called HotDocs Corporation.
“The HotDocs Group has a strong base of recurring revenue from many of the world’s largest commercial enterprises, government agencies and over 2,700 law firms worldwide,” commented Russell Shepherd, CEO of HotDocs. “Continued growth in a difficult economy is a testament to the quality of our people, our expanding technology portfolio, and an established, international brand.”
Shepherd added that in 2013, HotDocs “will launch a number of new innovative and disruptive products alongside major upgrades to existing products, which will further cement HotDocs as the leading document generation platform in the world.”
For more information, visit www.hotdocs.com.
HotDocs is the recognized market leader in document generation technology. Having pioneered the document generation concept (sometimes referred to as “document assembly” or “document automation”) in the mid-1980s, HotDocs has grown to serve over 1 million users, including 80% of the AmLaw 200, 20% of the Fortune 500, and enterprises of every type and size in 42 countries throughout the world. HotDocs Corporation is a wholly owned subsidiary of HotDocs Ltd., which is headquartered in Edinburgh, Scotland.