PINSENT Masons has sold Cerico, its Glasgow-based online compliance solutions business Dow Jones.
The law firm launched Cerico in 2013 as a joint venture with information technology (IT) consultancy Campbell Nash and took a majority stake in 2015.
As part of the transaction Pinsent Masons will retain a strategic relationship with Dow Jones through which it will continue to provide the legal content for compliance solutions and deliver supplementary legal compliance support.
Cerico chief executive Jim Armstrong and 15 staff will move to Dow Jones. Richard Masters, former executive chairman of Cerico, will remain a partner at Pinsent Masons.
Cerico was amongst of the first of a series of investments made by Pinsent Masons. Within the last five years the firm has also launched an international legal resourcing hub Vario, acquired a stake in ‘new law’ start-up business Yuzu.
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