Robert Ambrogi over at LawSites just reported that Fastcase has acquired Loislaw.
LoisLaw subscribers began receiving notices over the weekend informing them of the news. The letter stated that WK will sunset the Loislaw product effective Nov. 30, and that “we are collaborating with Fastcase so they can offer comparable subscription plans on the Fastcase platform, including Loislaw treatise libraries, at the same or lower prices as your current Loislaw subscription.”
Reached by phone, Fastcase CEO Ed Walters confirmed the acquisition. He said that it was an assets-only purchase that includes the Loislaw brand and domain name and that will move Loislaw’s subscribers to Fastcase. He declined to disclose the purchase price.
Wolters Kluwer … is increasingly focusing its products on the larger-firm market and on highly regulated and specialized areas of law such as corporate finance, securities, tax, banking and health. Given that focus, it no longer makes much sense for the company to spend resources on a product such as Loislaw that does not fit with its market.
Subscribers will be migrated to the Fastcase service sometime before Nov. 30, when the current Loislaw site will be shut down. Existing subscriptions will be grandfathered at their current or better prices, Walters told me.
This seems like a great move by Fastcase to improve its platform by including the substantial resources available through Loislaw — after all, Loislaw was one of the first databases geared toward small firms with a lower price tag than WEXIS.