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LPO UnitedLex turnover hits $42.8m, grew 1,287% in 3 years, India headcount steady

LPO: India-generated turnover backs fast-growing US company
LPO: India-generated turnover backs fast-growing US company
The turnover of legal process outsourcing (LPO) company UnitedLex was $42.8m (Rs 238 crore) in 2011, up from $28.2m the previous year, reported US-based Inc Magazine in its listing of the 500 fastest-growing privately held US companies.

In 2008 the LPO’s turnover was only $3.1m, according to the magazine, with its current employee headcount sitting at 750.

In a press release from UnitedLex today, CEO Dan Reed stated that “over 400 experienced and dedicated employees in India” were providing “higher end services” including litigation-related e-discovery and document review, patent drafting and patent litigation support, contract negotiations and “commitment management”.

Anup Bhasin, UnitedLex’s chief operating officer, India said in the release: “In achieving this feat yet again, our employees, two thirds of whom are based out of India, have played a significant role in servicing the requirements of our clients.”

Legally India reported in 2010 when the company after having been empanelled by UK telecoms major BT, that the LPO was targeting a revenue of $35-40m in the 2011 financial year. The company appears to have exceeded that target according to Inc’s figures.

In 2010 Reed said that UnitedLex employed around 550 lawyers globally, of whom 425 were were based in India.

It is understood that a significant part of UnitedLex’s revenue is derived from licensing its technology and software in the US, which is offered to clients together with the LPO’s legal support.

Pangea3, India’s largest pureplay LPO by headcounts, currently employs 850 lawyers and was sold to Thomson Reuters in 2010 for around $35-40m at an annual revenue of between $25m and $30m, according to the Business Standard.

India’s largest law firm, Amarchand Mangaldas, is understood to be targeting turnover of Rs 1,000 crore ($203m) by 2017, although an estimate by RSG Consulting in 2010 estimated the firm’s then turnover figure at $40m (Rs 181 crore).

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