Digital assets, data and “repeatable, digitally enabled processes” will play a central role in future law firm mergers and acquisitions, two leading advisers have predicted.

They said that to compete with the top law firms, mid-tier firms would need to “assertively use technology” to drive down price while growing market share, which “inevitably” would have to involve mergers.

They said the legal profession could be “at the early stage” of a wave of mergers – “potentially larger” than the one which followed the global financial crisis of 2008.

“If GenAI proves to be the transformational force many expect, then law firm merger motives, selection criteria and measures of success will all likely be rewritten.

“Those that transition to new operating models early will open gaps that laggard

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