ALM has made its first acquisition under its new CEO Bill Carter, who joined the company in March, with content curation and "listening" platform RivalEdge, which was constructed specifically for the legal market.
The technology will be housed in ALM’s Legal Intelligence group and, says Carter, will provide ALM’s customers the ability to customize the information they receive from the company. "RivalEdge allows us to pull outside content and marry it with all the other legal intelligence products that ALM provides for legal professionals and use big data techniques to crunch it and see what’s useful for our customers," he says.
RivalEdge has two main products: FirmWatch, which monitors law firm news, events publications and social media content to provide daily summary alerts on the activity of any law firm selected by the subscriber; and LateralWatch, which is essentially a service that tracks job changes of legal executives.
The deal follows a round of organizational changes that Carter has initiated, including promoting Kevin Michielsen to the newly created position of chief operating officer, moving VP and editor-in-chief Aric Press into a "senior ambassador" role and shifting David Brown into the VP/executive editor role.
In the last six months, Carter says he’s been focusing on new product development opportunities and strengthening existing lines of business. "The things i want to do are improve our marketing as an organization, strengthen it and become more rigorous around customer acquisition and renewals. Second is building a sales organization and expanding on the existing base, especially with new products. And now we’re looking at other pieces that we want to add to the portfolio, like RivalEdge."