Robin AI to Sell Managed Services Division to UK Rival Scissero
Robin AI is set to sell its managed services division to UK rival Scissero for a knockdown price, with a public announcement expected on Wednesday. The deal involves only Robin AI's managed services arm; its technology platform will not be part of the acquisition. The sale follows significant layoffs at Robin AI in autumn after a funding round failed to materialise.
Scissero's acquisition will expand its client base to more than 100 companies and intensify competition with firms such as Harvey and Legora. Robin AI's clients include major corporations like Pfizer, PepsiCo, and General Electric, spanning asset managers and investment banks.
Backed by SoftBank and Episode1, Robin AI was praised in 2023 by then-prime minister Rishi Sunak for its role in revolutionising the legal profession. Post-acquisition, the enlarged Scissero will have around 150 employees.
Statements from Scissero's CEO Mathias Strasser highlighted consolidation in AI-enabled legal services and the UK's leadership in innovation. Robin AI CEO Richard Robinson described the deal as an exciting new chapter for the managed services team.
