Forbes Media announced Monday that it had signed a technology agreement with ALM, the parent of American Lawyer.
Under the agreement, Forbes Media will license its Falconsoftware to ALM, host ALM’s flagship web site – www.law.com, and provide ongoing consulting and custom software development services. Law.com will be powered by the same technology used by Forbes.com’s contributor platform.
Falcon is Forbes’ proprietary software and one of the key drivers that has enabled success for Forbes.com’s contributor platform. From 2010-2013, Forbes.com’s unique monthly visitors have more than doubled from 12 million to 26 million, according to comScore worldwide.
“Over the last three years, Forbes has evolved as both a publisher of content and as developer of new technology. Our contributor platform on Forbes.com allows us to efficiently create and publish high quality content at scale,” said Mike Perlis, Forbes Media president and CEO. “The partnership with ALM marks an important milestone for us and underscores the growing interest in the marketplace in our contributor platform and unique software. We anticipate this to be the first of several software licenses expected to deliver significant new revenue streams for the company in 2014 and beyond.”
In addition to law.com, ALM publishes The American Lawyer, Corporate Counsel, The National Law Journal and The New York Law Journal.