Exterro, based in Beaverton, Oregon, announced the acquisition of Zapproved, a software platform that assists corporate lawyers in sorting through and analysing data.
The terms of the agreement were not disclosed, but it is said to be worth “hundreds of millions” of dollars.
Zapproved, which raised $15 million from K1 Investment Management in 2015, ranked 92nd on the GeekWire 200, our list of the top privately-held Pacific Northwest startups.
According to LawSites, almost all of Zaapproved's 130 executives and employees will transfer to Xtero.
That includes CEO Monica Anand, who founded Zaapproved in 2008. The total number of employees will be 750.
Exterro is a Leeds Equity Partners portfolio company that also sells legal software for e-discovery.
The New York-based private equity firm first invested in Exterro in 2018, pouring over $100 million into the company to acquire a majority stake.