Wolters Kluwer agreed to acquire legal AI software assistant provider Libra Technology for up to 90 million euros ($104.7 million).
The information-services company said Friday it will make an upfront payment of 30 million euros for Libra, with the rest dependent upon certain performance targets being met.
"This acquisition complements Wolters Kluwer's Expert AI solutions already available in our legal research platforms in Europe and the U.S. to deliver enhanced value to legal customers. Libra's proven, cutting-edge solution fits perfectly with and accelerates our exciting AI roadmap," Chief Executive Martin O'Malley said.
Wolters said the acquisition wouldn't have a material impact on adjusted earnings in the near term.
The deal is expected to be completed in November, subject to regulatory approvals.
Write to Najat Kantouar at najat.kantouar@wsj.com