General

Welcome to our latest Legal Accounts Quarterly Market Update, covering July to September 2017.
The third quarter period of the year is often the most sluggish in the recruitment calendar, with the summer holiday season causing delays to selection and interview processes, and this was certainly the case in July and August. Demand for staff has risen however, and we’ve still seen a 15% increase in the number of instructions received in comparison to the second quarter period.
The Travelers Companies, Inc. (NYSE: TRV) today announced that it has agreed to acquire Simply Business from Aquiline Capital Partners LLC for an enterprise value of approximately $490 million, which includes the repayment of debt and other obligations at closing. Operating since 2005, Simply Business is a leading distributor of small business insurance policies in the United Kingdom, offering products online on behalf of a broad panel of carriers.

NetDocuments, the leading cloud-based document and email management (DMS) platform for law firms and corporate legal departments, announced today that it has hired 50 individuals over the last 12 months, including several key management positions, as the legal market’s widespread adoption of the cloud-based platform continues to rise.
This article was originally featured as a column in the October issue of LPM. To read the issue in full, download LPM.

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