Arent Fox and Schiff Hardin will merge in a deal set to take effect March 1, the pair said in a statement on Wednesday.

ArentFox Schiff will have more than 600 lawyers and policy professionals in total along with combined revenue of more than $475 million, its two predecessor firms said.

The merger is set to vault the new ArentFox Schiff into the ranks of the nation's 100 highest revenue firms, based on American Lawyer data.

Washington, D.C.-based Arent Fox includes a sizable lobbying practice in addition to its legal practices.

The firm's chair, Anthony Lupo, said in the statement that the merger "doubles our corporate, finance, and litigation capabilities."

The smaller of the two merger partners, Schiff Hardin, was founded in Chicago and has a maintained a significant midwestern presence.

ArentFox Schiff will operate in seven U.S. markets, the firms said.

Lupo will be chair of the new firm, while Arent Fox firmwide managing partner Cristina Carvalho and Schiff Hardin managing partner Joseph Krasovec will serve as co-firmwide managing partners, according to the statement.

There have been a few other law firm combinations this year, including the tie up between Holland & Knight and Thompson & Knight, which took effect in August. Crowell & Moring combined with intellectual property firm Brinks Gilson & Lione, and Thompson Coburn joined with New York boutique Hahn & Hessen, both in July.

Overall, law firm merger activity in 2021 is lower than pre-pandemic levels, according to data released in October from law firm consultancy Fairfax Associates, but expected to "return to a higher level in 2022."