As announced, Text IQ leverages machine learning (ML), graphical modeling, social network analysis (SNA), natural language processing (NLP) and deep learning to create AI solutions that manages and mitigates risks in enterprise data. Relativity intends to incorporate Text IQ’s unique approach to AI and ML and its product offerings to expand the legal and compliance solutions for its customers, like privilege reviews.
“We’re merely scratching the surface of what the application of AI to our industry can mean. Our customers recognize that while AI offers immense possibility, it must be thoughtfully designed and applied to address use cases that yield specific business outcomes. We know that Text IQ’s proven technology, coupled with its incredible team of talented professionals, will be a wonderful addition to Relativity and help us deliver even more value to our customers,” said Mike Gamson, Chief Executive Officer at Relativity.
According to Relativity, the new acquisition will accelerate the pace of innovation in RelativityOne and Relativity Trace with the plan of embedding some of the core capabilities of Text IQ to improve its existing AI and ML functionality in both platforms aiming to provide its users access to Text IQ’s leading AI capabilities.
This transaction also follows the acquisitions of VerQu by Relativity in January this year. VerQu is a data management software company that helps organizations migrate, capture and keep records of communication data.
“Most of the industry’s legal and compliance data already live within the Relativity ecosystem, which adds to our excitement around increasing Relativity’s customers’ access to our AI models. The fusion of our companies and technology will deliver on the promise of AI in a way that our industry has yet to experience all while ensuring that ethical and unbiased AI is at the core of everything that we do,” said Apoorv Agarwal, Co-Founder and Chief Executive Officer at Text IQ.
Furthermore, Text IQ intends to continue its focus on innovations of its technology, selling to and servicing the industry and its customers while working with the Relativity team to build a seamless integration between their products.