Corporate law firm Gattai, Minoli, Agostinelli & Partners ('Gattai') has adopted Luminance’s artificial intelligence to streamline the M&A due diligence processes at the Italian firm.
Gattai, which is ranked in The Legal 500, has a consolidated corporate practice and particular expertise in M&A and Private Equity. The firm trialled Luminance’s machine learning technology in a live transaction in order to experience using the platform in a time-pressured environment. In particular, Gattai valued how quickly Luminance familiarised itself with the Italian language, identifying clauses and anomalies without instruction.
'Gattai has been interested in the application of AI in the legal profession for some time, and we are delighted to have found a technology that can enhance the organization of the due diligence work performed by our lawyers,' added Bruno Gattai, Managing Partner at Gattai. 'From day one of the transaction, Luminance provided the deal team with a holistic and instant understanding of the data room, ultimately enabling our lawyers to divide the work in an efficient way and to have an additional control that key issues will not be missed'
Emily Foges, CEO of Luminance, said of the announcement: 'Our continued expansion across Europe demonstrates the totally language agnostic nature of Luminance and its ability to add value to the work of lawyers in any jurisdiction. We’re delighted to welcome a forward-thinking firm such as Gattai to the roster of European law firms using Luminance for M&A due diligence.'
Luminance, developed from Ph.D. research at Cambridge University, harnesses proprietary machine learning algorithms to read and understand legal documents in a similar way to humans, coping with volumes and working at speeds that no human can match. Automatic anomaly detection pinpoints key opportunities and risks within the data room, while extensive collaboration tools streamline the process from start to finish.
Luminance has over 76 customers in 23 countries across five continents since launching in September 2016, including ten of The Global 100. The platform is also used by leading European law firms Portolano Cavallo, Pérez-Llorca and Uría Menéndez.
About Gattai, Minoli, Agostinelli & Partners
The Firm was founded in 2012 on the initiative of Bruno Gattai and Luca Minoli with about 30 professionals focused on Private Equity and M&A. The growth was immediate from the very beginning – both in terms of size and in terms of positioning – and has further consolidated itself thanks to the contribution of leading talents, such as Riccardo Agostinelli, who joined the Firm in 2014 together with his Banking and Finance Law team. Throughout time, the Firm has further widened the range of practice areas, thus establishing the Employment Law, Intellectual Property and IT, Tax, Litigation, Antitrust and Competition Law and Structured Finance departments, and, finally also creating the Financial Regulations department. At present, only five years after being founded, the Firm has more than 90 lawyers, offices in Milan, Rome and London, and is capable of offering comprehensive assistance not only in extraordinary transactions, but also in the ordinary course of business of large industrial group companies and of investment fund portfolio companies.
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