Frost & Sullivan names Pangea3 as market leader in legal process outsourcing
26 Oct 2006
Mumba: Provider of high-end outsourced legal support services from India Pangea3, has won the Frost & Sullivan Market Leadership Award.
According to Frost & Sullivan, which provides global growth consulting, Pangea3 has been ranked as the single largest provider of legal process outsourcing with the highest market share in India.
According to Alok Shende, director, ICT practice, Frost & Sullivan India, "The legal and the patent services industry is expected to post solid gains from the offshoring model. Pangea3 has acquired an early bird's advantage by establishing its leadership well before its competitors in this emerging space."
The Frost & Sullivan Market Leadership Award is given to companies that exhibit leadership through the identification of market challenges and a corresponding development and implementation of a successful market strategy.
Pangea3 currently provides outsourced legal and competitive intelligence services in the areas of intellectual property, corporate, and litigation combined with customised low-cost technology solutions (on-line docketing, contract / document management, and legal-term database platforms).
"We are enabling global competition in a historically localised legal industry by elevating quality and dramatically reducing cost," says, Sanjay Kamlani, co-CEO, of the company. He adds, "We strongly believe that our service offerings will create a significant impact within the legal industry at a time when skyrocketing costs of local external law firms in the US and Europe have been hampering the growth of their clients. The Frost & Sullivan Award clearly recognizes the growth that we have achieved by providing high-end legal services to clients."
The business, which was founded by Sanjay Kamlani and David Perla, both of whom are the company's co-CEOs, in May 2004, aggressively taps an estimated $200 billion market (source: Snapdata Research) for legal services in the United States. In March this year, the company secured its second round of funding for $4million from The GlenRock Group, a New York headquartered strategic investment and advisory firm.