UK tech company buys law firm

Publicly listed tech company Quindell Portfolio is set to participate in the revolution of legal service provision in the UK, as it prepares to purchase a law firm under recent laws permitting non-lawyers to own law firms. The firm in question is regional-based personal injury and consumer claim specialist practice Pinto Potts, and if Quindell is given regulatory approval from the UK’s Financial Services Authority and England’s Solicitors Regulation Authority, the firm’s services will be be part of ‘a joint outsourcing offering to the UK insurance claim market’.

 Under the proposed deal Quindell will pay £1.5 million in cash for the law firm, followed by the same amount of cash in roughly a year, and will issue 87.5m in Quindell shares to the firm’s partners.

UK tech company buys law firm Tue, Oct 16, 2012