Property data and search company TM Group has announced the acquisition of AML and KYC compliance business Lawtech Software Group for an undisclosed sum, in a move it describes as “further (enhancing) it’s position in the digital conveyancing technology space
Lawtech Software Group encompasses Verify 365 AML and KYC compliance, DynamicID identity verification, and Lawyer 365 consultation and onboarding tools. The business launched 3 years ago with founder Rudi Kesic commenting
“This next phase in our journey is a major milestone for Lawtech as well as a leap towards transforming the legal technology landscape. Joining forces with TM Group drives us even further forwards in scaling our innovations, enhancing our tech products, and driving greater efficiency in digitising legal processes for the UK legal and conveyancing sectors.”
The acquisition is the first under TM Group’s new owners AURELIUS, which acquired the company from Dye & Durham following the Competition and Markets Authority investigation, in July 2023. Describing the move as a ‘game changer,’ TM Group CEO Thomas Maerz suggested the acquisition ‘sets new benchmarks for the industry’ and is a statement of intent from AURELIUS.
“This is testament to AURELIUS´ close support and expertise in building up successful platforms. Furthermore, it marks a crucial step in strengthening TM Group’s core product propositions, enabling us to plug gaps in the conveyancing life cycle. The real value lies in accelerating our growth strategy, enhancing our value proposition after listening to our customers, and providing a springboard to future-proof our business.”
“Our aim is not only to address current gaps in our proposition but also to make the process of buying and selling a house in the UK easier, faster, and more transparent for everyone in the future.”
TM Group recently announced the appointment of Gary Barker as Chief Operating and Technology Officer, with Jonathan Stebbings stepping up to Chief Commercial Officer. Sharing his own thoughts on the future Gary Barker says,
“TM Group sits at the heart of the homebuying journey, and this acquisition supports our objective to digitally transform this process and experience. Our mission is to ensure that the process of buying a home can be made simpler and easier, which is why I am excited to integrate Lawtech’s products into our platform. We will rapidly deploy ID checks, digital signatures, open banking, and address verification to our customers and partners, making the process faster, streamlined, efficient and all in one place. This is just the beginning of our innovation journey, and it demonstrates our commitment to change. I look forward to releasing more innovative products and solutions over the coming weeks and months.”
Jonathan Stebbings added,
“We are passionate about delivering consistent and consistently high levels of service to our clients. This next phase in the implementation of our strategy will enable white-labelled platform solutions that can be seamlessly embedded into our clients’ existing platforms, providing consistent workflows, flexibility, and more efficient processes as we make all stages of the end-to-end conveyancing journey simple for everyone, from client onboarding to post completion, invoicing and payment.”
