Luminance announces partnership with Moll Wendén Advokatbyrå 8 February 2018 | Press Release
Swedish law firm Moll Wendén Advokatbyrå has chosen Luminance’s artificial intelligence technology to improve the contract review processes for its work in Mergers and Acquisitions (“M&A”) transactions.
Recently named one of Sweden’s top five ‘most modern law firms 2017’ by Regi Research & Strategi, a Swedish consultant, Moll Wendén’s decision to deploy Luminance demonstrates its commitment to extending its position as a leading firm in the Swedish legal profession.
Luminance was installed into Moll Wendén’s system and the firm’s team was able to start utilising the language-agnostic technology immediately. Luminance is able to organise a data room and carry out a document review at high-speed, reducing the number of hours of manual input required to complete a typically large-scale M&A transaction.
“At Moll Wendén, we are dedicated to delivering optimal solutions to our clients and Luminance’s platform enhances our ability to do so,” said Martin Morén Jönsson, Partner at Moll Wendén. “The AI technology is easy to use and effective. We believe that its proficiency at data room analysis will improve the efficiency of our M&A team by enabling our lawyers to focus on detailed reviews and, thus, making the due diligence review more cost effective for our clients.”
By applying the latest advances in machine learning technology developed from Ph.D. research at Cambridge University, Luminance is able to read and understand legal documents in a similar way to humans but at a much higher speed. The technology uses a unique combination of supervised and unsupervised machine learning to highlight subtle differences between documents, so that Moll Wendén’s lawyers can identify key issues early on during a transaction.
“We are thrilled to have been selected by such a proactive and innovative firm. Moll Wendén’s partners understand the crucial role AI technology will play in maintaining its position at the forefront of the legal profession in today’s modern business environment,” said Emily Foges, CEO of Luminance. “The firm’s deployment of Luminance will enhance the quality of its services and allow it to keep its promise to always deliver with great commitment, high accessibility and against short deadlines.”
About Moll Wendén Advokatbyrå
Moll Wendén Advokatbyrå is a modern business law firm located in the south of Sweden advising clients ranging from international companies and Swedish municipalities, to private equity firms, medium-size owner-operated companies and listed companies. The firm combines its high level of legal expertise with a strong focus on its clients’ businesses. We are accessible and flexible in order for the client to always obtain the assistance needed at any given time.
Request our Product Sheet
To request a Product Sheet for one of our modules, please enter your details below.