„This new and expanded offering will make EY one of the world`s leading professional services firms for legal advice and services, including legal advisory, managed services and technology. This acquisition is an example of how EY strives to provide its clients with holistic solutions made possible by technology. EY is one of the world`s leading providers of audit, tax, transaction and advisory services. The high-quality knowledge and services we offer help build confidence in financial markets and economies around the world. We develop exceptional leaders who come together to deliver on our promises to all our stakeholders. In this way, we play a crucial role in building a better world of work for our employees, our customers and our communities. This press release was issued by EYGM Limited, a member of EY`s global organization, which also does not provide services to clients. To ensure that EY`s advice is tailored to clients` business needs, EY Law`s services focus on a number of sectors: automotive; Banking and capital markets; government and the public sector; Life Sciences; Mining and metals; Oil and gas; Energy and utilities; Private equity; Real estate; Hospitality and construction; Technology; and telecommunications. The acquisition of Pangea3, as well as another recent acquisition of Riverview Law, provides EY with a range of legal services. This includes legal advice, legal management services, legal technology and, where permitted, legal advisory services in more than 80 jurisdictions.

EY lawyers do not provide legal services in the United States. Pangea3 is an award-winning leader in managed legal services with more than 1,000 lawyers in eight locations on three continents. By leveraging legal, technical, and business process talent in high-quality, cost-effective centers, Pangea3 helps clients mitigate legal risk, reduce heavy costs, and ensure continuity and scalability for low-budget legal teams. If your case requires a document review and analysis, our team of experienced lawyers can help you get to know the facts faster. The acquisition supports the growth of EY`s LMS offering by expanding resources and capabilities, automating legal processes and creating a service model worldwide. These capabilities will also introduce measurable efficiencies and help clients transform their legal services and deliver significant value to their businesses. Thomson Reuters is the world`s leading provider of news and information tools for professionals. Our global network of journalists and specialist editors keeps clients abreast of global developments, with a particular focus on legal, regulatory and tax changes. Thomson Reuters shares are listed on the Toronto and New York stock exchanges.

For more information on Thomson Reuters, please visit tr.com and for the latest global news, reuters.com. The Pangea3 team has always been an industry leader in legal process outsourcing. This leadership position has evolved into Thomson Reuters Legal Managed Services, with a new vision designed for a world where big data challenges and regulatory requirements are increasing every day. We support our clients in their most important cases and their most critical and detailed tasks. At EY, we believe the answers lie in connectivity and creating an ecosystem built for the future. We leverage our existing cross-functional relationships and comprehensive, multidisciplinary approach to connect the right people in the right places with a technology-driven workflow and integrate the legal function into the entire business process. With multidisciplinary teams helping EY clients solve business challenges beyond the legal function, we deliver services for today as we align our strategies for the future. Pangea3 has been growing within Thomas Reuters for more than 15 years and now operates multilingual technology in eight centers around the world.

The acquisition will help EY deliver legal process automation and services worldwide to help clients transform their legal services. EY ranked 3rd on Accounting Today`s 2019 Top 100 Companies list with $14 billion in annual revenue in the United States. Globally, the company had annual sales of $34.8 billion. Reports suggest that the layoffs were limited to the former Pangea3`s U.S. sites and had no impact on sites elsewhere, including India, where Pangea3 employed a number of lawyers. With ISDA and other Thomson Reuters derivatives documentation services, our team can expand your in-house capabilities so you can focus on the strategic work of advising your business. „EY Legal Operations` service offerings are now at the forefront of enterprise managed service delivery, providing deep expertise, process rigour and scalability to guide and execute business transformation. The combination of legal advice and now with Pangea3 Legal Managed Services will enable EY to develop even more personalised services to help clients tackle their most pressing challenges. Pangea3 was the original pioneer of alternative legal services and has experienced significant growth within Thomson Reuters. Customers will continue to receive the same level of quality they have come to expect from Thomson Reuters and will also have access to a wider range of services. Preparation and negotiation of financial services documents Recognized for its high-quality solutions and a consistent industry award winner, Pangea3 was the original pioneer of alternative legal services.

Pangea3 has experienced significant growth within Thomson Reuters and has 15 years of experience in eight centers around the world. He has extensive technology experience, multilingual capabilities, and a „sun tracking“ model that supports legal workflows and quality controls. This acquisition significantly expands EY Law`s existing range of services. Pangea3 brings together more than 1,100 legal project managers, service professionals and technologists at EY, bringing the total number of EY legal professionals worldwide to 3,500.