Gattai, Minoli, Agostinelli & Partners has adopted Luminance’s artificial intelligence to streamline the M&A due diligence processes of the Firm.
The Firm, which is ranked in Chambers and The Legal 500, has a consolidated corporate practice and particular expertise in M&A and Private Equity. The firm trialled Luminance’s machine learning technology in a live transaction in order to experience using the platform in a time-pressured environment. In particular, the Firm valued how quickly Luminance familiarised itself with the Italian language, identifying clauses and anomalies without instruction.
“The Firm has been interested in the application of AI in the legal profession for some time, and we are delighted to have found a technology that can enhance the organization of the due diligence work performed by our lawyers,” added Bruno Gattai, Managing Partner of the Firm. “From day one of the transaction, Luminance provided the deal team with a holistic and instant understanding of the data room, ultimately enabling our lawyers to divide the work in an efficient way and to have an additional control that key issues will not be missed.”
Emily Foges, CEO of Luminance, said of the announcement: “Our continued expansion across Europe demonstrates the totally language agnostic nature of Luminance and its ability to add value to the work of lawyers in any jurisdiction. We’re delighted to welcome a forward-thinking firm such as Gattai, Minoli, Agostinelli & Partners to the roster of European law firms using Luminance for M&A due diligence.”
Luminance, developed from Ph.D. research at Cambridge University, harnesses proprietary machine learning algorithms to read and understand legal documents in a similar way to humans, coping with volumes and working at speeds that no human can match. Automatic anomaly detection pinpoints key opportunities and risks within the data room, while extensive collaboration tools streamline the process from start to finish.
Luminance has over 76 customers in 23 countries across five continents since launching in September 2016, including ten of The Global 100. The platform is also used by leading European law firms Uría Menéndez, Portolano Cavallo and Pérez-Llorca.