Abacus Data Systems Inc. received a strategic majority investment from a Rhode Island-based private equity firm, Providence Equity, the San Diego business announced Dec. 16. The amount of the investment was not immediately available.
Abacus, which serves the legal community and is based in the University Towne Center neighborhood, said it will expand its infrastructure to deliver compliance-ready private cloud technologies to its clients.
Over the last two years, Abacus has migrated a significant number of its AbacusLaw customers from local networks to its Desktop as a Service product, Abacus Private Cloud.
Alessandra Lezama, CEO of Abacus, said the investment will help her company in its continued transformation. She also spoke of offering the service to other vertical markets which face strict compliance challenges.
The AbacusLaw software offering includes case management, time, billing and accounting functions, and is fully customizable. It’s appropriate for law firms of all sizes.
Providence Equity has more than $40 billion in commitments. It focuses on media, communications, education and information. Jonathan M. Nelson is CEO.