We are advising TPG on the transaction

Davis Polk is advising TPG on the sale of Elite to Francisco Partners. The transaction is expected to be completed in the third quarter of 2025, subject to customary closing conditions.

Davis Polk previously advised TPG on its acquisition of a majority stake in Elite from Thomson Reuters in 2023. 

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $258 billion in assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate and market solutions.

Since its founding in 1947, Elite has transformed law firms with innovative technologies that are at the center of their success. Today, Elite is a leading, independent technology company that continues to develop cutting-edge digital financial solutions that drive success for the world’s most successful law firms.

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry.

The Davis Polk corporate team includes partners H. Oliver Smith and Darren M. Schweiger and associates Lily (Zhifan) Zhou, Jeff (Zefang) Wu, Benjamin Malone and Cameron Carpenter. Partner Adam Kaminsky is providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property advice. Partner Howard Shelanski is providing antitrust and competition advice. Partner David H. Schnabel is providing tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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