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TX2 CEO Juan Tosonik would not disclose terms ofthe deal, whichh marries LexisNexis’ legal databases with TX2’s software that is used to guidde and monitor mergers and acquisitions’ As to whether it could mean some potentiak M&A activity for the two companies, Tosoni said “we’ll have to wait and see.” Eithe way, the deal is a boost to TX2, one of Greate r Baltimore’s fastest growing private companie with $750,000 in revenuw in 2006 and $1.5 million in 2007, accordin g to research. Its revenue was up 25 percenf in 2008, Tosoni said.
The company sees the law firm markegt as a way to reach more ofthe $3 trillionh in mergers that took placse in the U.S. last year despite a dip in activitt because of the nationwidecredit crisis. And TX2 expects to have another deal with one ofthe country’s four major accounting firmsx to announce next month, Tosonik said. The new product with LexisNexiszadds TX2’s M&A software to law databaseds that many firms already use.
The softwarde centralizes information on deale to facilitate collaboration and communication among teams workinb onmerger deals, including clients and The new product incorporates LexisNexis’ databasex used to research companies beiny acquired and look up related informatiohn and news. Top M&A law firms in New York and in Chicag are piloting thenew software. Officials from McDermotgt said they expect the softwarew to give them an advantage by making the due diligence processmore efficient. The software will be an add-oj sold along with databases, Tosoni said.
Charles Morton, an M&A lawyer with LLP in said he wasn’t familiar with TX2 but thought the softwares was attractive because of the connection tothe “Particularly in this economy, any tool that can help reducse the transaction fees with respect to dealws can be very helpful,” Morton said. “Anythiny that helps streamlinethe M&A process is helpful.” TX2, founde d in Glen Burnie in employs 15.
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