2025 M&A News: Elite Acquires Tranch for First Deal of the Year
The legal tech industry has kicked off 2025 with a bang as Elite, a financial management solution previously owned by Thomson Reuters, has made its first M&A deal of the year by acquiring Tranch, a B2B invoice automation and payments platform designed for lawyers.
Tranch’s cutting-edge electronic payment options include “Pay Now” through bank transfers managed by FedNow and the Real-Time Payment Network, “Pay by Card” with virtual card terminals for billing teams, and “Pay Later” that lets law firm clients make payments over time, providing them with flexibility while helping law firms with cash flow from day one.
With this new acquisition, Elite plans to expand its SaaS portfolio, focusing on long-term growth and driving digital transformation for law firms globally. Through Tranch’s next-generation platform, law firms can streamline their invoice-to-payments process, reducing their cash collection cycle and increasing productivity without needing to hire more finance staff.
Elite’s CEO, Mark Dorman, expressed excitement about welcoming the Tranch team onboard, highlighting Tranch’s innovative approach to revolutionizing payment processes for law firms. By integrating Tranch’s solutions into Elite’s portfolio, customers will have more choices and flexibility in managing their work-to-cash process, ultimately reducing payment delays, boosting cash flow, and improving profitability.
Tranch’s CEO, Philip Kelvin, emphasized the need for technology investments in financial operations within law firms and the significant opportunities for improvement. In 2024, Tranch saw a surge in payment volume with top global law firms, leading to easier and faster payments through automation and innovation. As Tranch joins Elite, they are committed to scaling their capabilities further and continuing their product-oriented innovation.
And there you have it – the legal tech market is already bustling with activity in 2025. It’s an exciting time for innovation and growth in the industry.
