Are Thomson serious about Social Networking?

The House of Butter Blog is reporting that Thomson/Westlaw have made their first tentative steps into the Social Networking market with the purchase of U.S. based Contact Networks. Contact Networks main product is an application called ContactNet

"ContactNet, the first and most powerful social networking application built specifically for corporate environments, automatically uncovers, aggregates and prioritizes a firm’s internal relationships with external business contacts. Now, determining “who knows whom” is as simple as doing a Google-like search, with no data entry or ongoing database maintenance."

It will be interesting to see what plans Thomson/Westlaw have for the products ContactNetworks provide and at what point we might see the first implementation in the UK. House of Butter seem generally excited about this acquisition or rather the ramifications;

"We imagine that any other networking companies with software that suit the legal market will be rubbing their hands with glee at the thought of this purchase by Thomson / Westlaw. It means that not far behind will be Lexis Nexis with their bulging pockets of cash ready to snap up somebody who can keep them in the game."

I guess we will just have to wait and see!

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    # by Unknown - Tuesday, January 29, 2008

    Contacts Networks isn't a social networking tool - it's a competitor to heavy-duty CRM tools, such as Lexis Nexis InterAction. Instead of the lawyers having to enter lots of data into a CRM system, Contact Networks mines the law firm's Microsoft Exchange server and identifies who sends emails to whom, thereby enabling the firm to build a picture of who within their firm speaks to and knows who within their clients...