Francisco Partners to acquire Elite from Thomson Reuters (NASDAQ: TRI)

Francisco Partners announced it will acquire Elite, a legal industry software and payment solutions provider, from TPG Capital and Thomson Reuters (NASDAQ: TRI). The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions. Financial terms were not disclosed.

Elite provides cloud-based financial management software and integrated payment solutions to law firms. The company serves approximately 2,000 law firms, including 75% of the Am Law 100 and 72% of the Global 100. Its primary product, 3E, handles billing, payments, and accounting functions for legal practices.

Since TPG’s partnership with Elite began in 2023, the company has launched a cloud-native platform, expanded its cloud subscriber base, and integrated artificial intelligence capabilities. Elite also acquired B2B payments platform Tranch to enhance its native payments offerings.

“With Francisco Partners’ financial support and extensive legal software and payments expertise, we are confident they are the right partner to help us continue to deliver our transformative products to the legal industry,” said Mark Dorman, CEO of Elite.

Francisco Partners specializes in technology investments and has invested in more than 450 technology companies over 25 years, with more than $50 billion in capital raised. The firm will provide financial backing for Elite’s continued product development and market expansion.