Monica Bay reports in Law Technology News on July 14, 2010
In what signals a significant move into the e-discovery market, Thomson Reuters has purchased CaseLogistix from San Diego's Anacomp. Terms of the deal were not announced.
CaseLogistix offers document review, data ingestion, and production tools to help litigation teams manage the electronic discovery review process, says TR. "The acquisition is a critical next step in furthering the Thomson Reuters litigation strategy," says Allison Guidette, TR Legal's vice president and general manager of litigation (and formerly an executive with Merrill Corp.). The CaseLogistix team will be under her umbrella.
Tom O'Connor, a longtime member of LTN's Editorial Advisory Board, served as an independent consultant for CaseLogistix from 2006-2009, writing white papers, and conducting webinars and focus groups about e-discovery processes. The acquisition, he says, shows that there's been no slowdown in the efforts of large companies aquiring small EDD firms, in order to create "end-to-end" offerings. "More specifically, this signals to me that TR is serious about that market, and is finally taking steps to counter the immense EDD and litigation support market presence of LexisNexis."
Says Craig Ball, LTN's EDD columnist, says "it's exciting to see Thomson dipping its toe in the e-discovery ocean. Acquiring CaseLogistix suggests the emergence of a broader EDD strategy, because CaseLogistix , by itself, does not an EDD vendor contender make." The more intriguing question is what the sale means for Anacomp's future, as it had reportedly divested itself of at least one other acquisition to focus on CaseLogistix ," says Ball. "What fills the big hole left by CaseLogistix -- a flagship product -- if Anacomp plans to stay in the industry?"
Will Thomson Reuters Legal look in the neighborhood for its next EDD acquisition? Time will tell.
Monica Bay is editor-and-chief of Law Technology News, and is a member of the California Bar.
Thursday, July 15, 2010
Tuesday, July 06, 2010
Veritext Acquired by Investcorp
NEW YORK, July 6 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products, announced today that it has acquired Veritext Holding Company, a leading national provider of deposition and litigation support services to law firms, Fortune 500 corporations, and regulatory agencies in the United States. The terms of the transaction were not disclosed.
Veritext was acquired from an investor group led by The Riverside Company and members of the management team that bought the company in August 2005.
Veritext has its headquarters in New Jersey and operates within the stable and growing legal services industry through its 30 locations across six core geographic regions in the largest legal markets in the United States. The company provides technology and services that capture testimony during a deposition which is a critical part of the discovery phase of most civil litigation cases in the United States.
"Over the past several years, Veritext's management team, led by CEO Michael Sandler and COO Nancy Josephs, has built a market leading company by leveraging its proprietary technology to offer a variety of highly differentiated deposition services," said Chris McCollum, a Managing Director in Investcorp's private equity business. "We believe that Veritext has multiple ways to grow. It has a leading position in the growing deposition services market, the capability to generate strong free cash flow and the opportunity to complete further add-on acquisitions.
Veritext was acquired from an investor group led by The Riverside Company and members of the management team that bought the company in August 2005.
Veritext has its headquarters in New Jersey and operates within the stable and growing legal services industry through its 30 locations across six core geographic regions in the largest legal markets in the United States. The company provides technology and services that capture testimony during a deposition which is a critical part of the discovery phase of most civil litigation cases in the United States.
"Over the past several years, Veritext's management team, led by CEO Michael Sandler and COO Nancy Josephs, has built a market leading company by leveraging its proprietary technology to offer a variety of highly differentiated deposition services," said Chris McCollum, a Managing Director in Investcorp's private equity business. "We believe that Veritext has multiple ways to grow. It has a leading position in the growing deposition services market, the capability to generate strong free cash flow and the opportunity to complete further add-on acquisitions.
Saturday, July 03, 2010
Unify and Daegis Merge to Become Industry’s Most Comprehensive eDiscovery Company
ROSEVILLE, Calif. and SAN FRANCISCO, Calif., – June 29, 2010 – Unify Corp. (NASDAQ: UNFY), a global information management company, and Daegis, a leading eDiscovery solutions provider, today announced that they have merged. Together, the companies will deliver industry-first solutions that integrate information archiving with electronic discovery management to bring organizations flexibility, scalability and predictability across the entire litigation lifecycle.
Under the terms of the agreement, Unify will pay approximately $38 million in a combination of cash, seller financing and stock, detailed more fully below. For the twelve months ended April 30, 2010, Daegis generated approximately $23 million in revenue and $6.5 million in adjusted EBITDA.
By merging, Unify and Daegis will bring new solutions to market that uniquely address the convergence of archiving, information governance and eDiscovery. The combination of Unify’s archive repository and Daegis’ eDiscovery services and technology will facilitate a new level of data management and cost savings for corporate legal departments and law firms. Clients can strategically manage their data within the firewall and, by leveraging Daegis’ eDiscovery Analytics Consulting (eDAC), benefit from intelligent selection of responsive data early in the process. The integration of technologies will enable the preservation and repurposing of valuable attorney work product across multiple matters. These solutions will reduce costs, increase defensibility and furnish a blueprint for repeatable success across the Electronic Discovery Reference Model (EDRM).
Under the terms of the agreement, Unify will pay approximately $38 million in a combination of cash, seller financing and stock, detailed more fully below. For the twelve months ended April 30, 2010, Daegis generated approximately $23 million in revenue and $6.5 million in adjusted EBITDA.
By merging, Unify and Daegis will bring new solutions to market that uniquely address the convergence of archiving, information governance and eDiscovery. The combination of Unify’s archive repository and Daegis’ eDiscovery services and technology will facilitate a new level of data management and cost savings for corporate legal departments and law firms. Clients can strategically manage their data within the firewall and, by leveraging Daegis’ eDiscovery Analytics Consulting (eDAC), benefit from intelligent selection of responsive data early in the process. The integration of technologies will enable the preservation and repurposing of valuable attorney work product across multiple matters. These solutions will reduce costs, increase defensibility and furnish a blueprint for repeatable success across the Electronic Discovery Reference Model (EDRM).
Wednesday, June 16, 2010
Precise, Inc. Acquires eDiscovery Software Provider LitSoft LLC
Pittsburgh, PA (PRWEB) June 15, 2010 -- Precise, Inc. (www.precise-law.com), a trusted provider of electronic discovery solutions and trial support services, today announced the completion of an agreement whereby it has acquired LitSoft LLC, a provider of eDiscovery software as a service (SaaS) founded in 2006 in Annandale, VA. The purchase of LitSoft is a strategic addition to Precise’s rapidly expanding suite of eDiscovery solutions. Specifically, Precise will make use of LitSoft’s flagship product, LitScope, an online document review application featuring an intuitive user interface built to enable fast, reliable, and efficient review with minimal training requirements.
The acquisition will extend Precise’s portfolio of discovery and document review offerings for its corporate and law firm clients. Precise will leverage LitScope’s review platform by emphasizing and building upon the application’s streamlined architecture, specifically designed to simplify the document review process and reduce the costs associated with the review and production of electronically stored information (ESI). The addition of LitSoft’s technology to Precise’s existing array of services reinforces the firm’s commitment to providing a complete suite of litigation support technologies including a full range of trial support services and eDiscovery solutions, from forensic data collection to full-scale document review.
Precise’s CEO, Peter L. Mansmann, Esq., states, “The acquisition of LitSoft supports our company’s mission of continued expansion in the eDiscovery market in direct response to ongoing demand for our services. Incorporating LitScope’s proven review technology into our current breadth of eDiscovery expertise further reinforces our position as a trusted provider of comprehensive discovery and trial support services to the legal community.”
Steve Jreige, former managing partner of LitSoft added, “The LitSoft team and I are extremely excited to join Precise, particularly given its outstanding reputation in the industry. We look forward to continuing to develop and bring to market leading edge eDiscovery technology, and I believe this acquisition greatly enhances our ability to do so.”
The acquisition will extend Precise’s portfolio of discovery and document review offerings for its corporate and law firm clients. Precise will leverage LitScope’s review platform by emphasizing and building upon the application’s streamlined architecture, specifically designed to simplify the document review process and reduce the costs associated with the review and production of electronically stored information (ESI). The addition of LitSoft’s technology to Precise’s existing array of services reinforces the firm’s commitment to providing a complete suite of litigation support technologies including a full range of trial support services and eDiscovery solutions, from forensic data collection to full-scale document review.
Precise’s CEO, Peter L. Mansmann, Esq., states, “The acquisition of LitSoft supports our company’s mission of continued expansion in the eDiscovery market in direct response to ongoing demand for our services. Incorporating LitScope’s proven review technology into our current breadth of eDiscovery expertise further reinforces our position as a trusted provider of comprehensive discovery and trial support services to the legal community.”
Steve Jreige, former managing partner of LitSoft added, “The LitSoft team and I are extremely excited to join Precise, particularly given its outstanding reputation in the industry. We look forward to continuing to develop and bring to market leading edge eDiscovery technology, and I believe this acquisition greatly enhances our ability to do so.”
Thursday, June 10, 2010
AccessData Corporation and CT Summation Announce Merger
LINDON, Utah and NEW YORK, June 9 /PRNewswire/ -- AccessData Corporation and CT Summation today announce they've signed an agreement to join forces and merge into a single company, AccessData Group, LLC. The new company will deliver an end-to-end eDiscovery software solution capable of addressing all phases of the litigation workflow.
As the leader in in-house eDiscovery collection, processing and analysis, AccessData brings to the merger an unsurpassed technology portfolio, designed to enable the world's largest companies to take control of eDiscovery and dramatically reduce costs. Its AccessData eDiscovery software is currently the most comprehensive eDiscovery solution on the market, enabling organizations to address litigation hold, automated collection, processing, and analysis prior to attorney review.
CT Summation, the premier provider of litigation workflow and eDiscovery solutions to law firms and corporate legal departments, brings to the deal a comprehensive suite of software products that are the gold standard throughout the legal community. CT Summation's iBlaze, Enterprise, WebBlaze, CaseVault, CaseVantage and Discovery Cracker products have received more than 45 legal industry technology and "Reader's Choice" awards since 1997. CT Summation is part of Wolters Kluwer Corporate Legal Services, which operates under the CT brand. Wolters Kluwer will remain as a strategic investor in the new AccessData Group, LLC, with a minority stake in the company.
By combining these complementary workflow solutions, AccessData will be able to deliver the first, true end-to-end eDiscovery software solution for corporations and law firms that supports the litigation process from litigation hold through trial.
As the leader in in-house eDiscovery collection, processing and analysis, AccessData brings to the merger an unsurpassed technology portfolio, designed to enable the world's largest companies to take control of eDiscovery and dramatically reduce costs. Its AccessData eDiscovery software is currently the most comprehensive eDiscovery solution on the market, enabling organizations to address litigation hold, automated collection, processing, and analysis prior to attorney review.
CT Summation, the premier provider of litigation workflow and eDiscovery solutions to law firms and corporate legal departments, brings to the deal a comprehensive suite of software products that are the gold standard throughout the legal community. CT Summation's iBlaze, Enterprise, WebBlaze, CaseVault, CaseVantage and Discovery Cracker products have received more than 45 legal industry technology and "Reader's Choice" awards since 1997. CT Summation is part of Wolters Kluwer Corporate Legal Services, which operates under the CT brand. Wolters Kluwer will remain as a strategic investor in the new AccessData Group, LLC, with a minority stake in the company.
By combining these complementary workflow solutions, AccessData will be able to deliver the first, true end-to-end eDiscovery software solution for corporations and law firms that supports the litigation process from litigation hold through trial.
Monday, June 07, 2010
Altegrity to Acquire Kroll, the World's Leading Risk Consulting Firm, from Marsh & McLennan
NEW YORK and FALLS CHURCH, Va., Jun 07, 2010 (BUSINESS WIRE) --Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm, and Altegrity, Inc, an international screening and security solutions company, today announced a definitive agreement under which Altegrity will acquire Kroll Inc. from MMC in an all-cash transaction valued at $1.13 billion. Altegrity is owned by Providence Equity Partners, the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies.
The transaction, which is expected to close by late September, is subject to regulatory approvals and other customary closing conditions.
Altegrity CEO Mike Cherkasky, who also served as President and CEO of Kroll from 2001 to 2004, said: "Our clients look to Altegrity for information and insight to make smarter decisions. The combination of Kroll and Altegrity broadens our capabilities with the addition of a portfolio of industry-leading services to help clients identify and manage risk. Altegrity and Kroll will leverage their combined resources to develop new and innovative solutions for government and commercial clients across a global platform. Both Altegrity and Providence look forward to working with Kroll CEO Ben Allen and the entire Kroll team to deliver the highest quality service offering in the industry and to grow the combined business."
"This transaction represents exciting new opportunities for Kroll," said Ben Allen, CEO of Kroll. "Over the past several years, we have taken significant steps to improve profitability and enhance collaboration across our business units. Kroll is now poised to continue its historical track record of growth, which will be accelerated by the combination with Providence and Altegrity."
The transaction, which is expected to close by late September, is subject to regulatory approvals and other customary closing conditions.
Altegrity CEO Mike Cherkasky, who also served as President and CEO of Kroll from 2001 to 2004, said: "Our clients look to Altegrity for information and insight to make smarter decisions. The combination of Kroll and Altegrity broadens our capabilities with the addition of a portfolio of industry-leading services to help clients identify and manage risk. Altegrity and Kroll will leverage their combined resources to develop new and innovative solutions for government and commercial clients across a global platform. Both Altegrity and Providence look forward to working with Kroll CEO Ben Allen and the entire Kroll team to deliver the highest quality service offering in the industry and to grow the combined business."
"This transaction represents exciting new opportunities for Kroll," said Ben Allen, CEO of Kroll. "Over the past several years, we have taken significant steps to improve profitability and enhance collaboration across our business units. Kroll is now poised to continue its historical track record of growth, which will be accelerated by the combination with Providence and Altegrity."
Monday, May 17, 2010
Navigant Consulting Acquires Daylight Forensic & Advisory
CHICAGO, May 17, 2010 - Navigant Consulting, Inc. (NYSE: NCI) announced today that it has acquired Daylight Forensic & Advisory LLC, an international regulatory consulting and investigative firm specializing in financial investigations, AML consulting, regulatory compliance, forensic technology services, and fraud risk management. Combining Daylight Forensic & Advisory’s industry expertise with Navigant’s Disputes and Investigations practice creates a significantly enhanced global investigative service offering, and reinforces Navigant’s strong New York presence.
“This combination is clearly a case of the whole being greater than the sum of its parts,” said William M. Goodyear, Chairman and Chief Executive Officer of Navigant. “Daylight’s market leading expertise in corporate investigations and compliance around AML, FCPA and fraud risk management, combined with Navigant’s deep forensic accounting capabilities, creates a comprehensive offering in the global investigations and compliance space. This combination comes at a critical time for our clients who are facing increasing regulatory pressure and risks associated with global business transactions.”
Daylight Forensic & Advisory is headquartered in New York City and the majority of their 65 consulting professionals are based there. Daylight Forensic & Advisory was founded in 2006 by Ellen Zimiles, Chief Executive Officer, and Joseph Spinelli, Chief Operating Officer. Zimiles has more than 25 years of litigation and investigation experience, including 10 years as a federal prosecutor in the Southern District of New York. She is a leading authority on AML programs, corporate governance, regulatory compliance, fraud control and public corruption matters.
“This combination is clearly a case of the whole being greater than the sum of its parts,” said William M. Goodyear, Chairman and Chief Executive Officer of Navigant. “Daylight’s market leading expertise in corporate investigations and compliance around AML, FCPA and fraud risk management, combined with Navigant’s deep forensic accounting capabilities, creates a comprehensive offering in the global investigations and compliance space. This combination comes at a critical time for our clients who are facing increasing regulatory pressure and risks associated with global business transactions.”
Daylight Forensic & Advisory is headquartered in New York City and the majority of their 65 consulting professionals are based there. Daylight Forensic & Advisory was founded in 2006 by Ellen Zimiles, Chief Executive Officer, and Joseph Spinelli, Chief Operating Officer. Zimiles has more than 25 years of litigation and investigation experience, including 10 years as a federal prosecutor in the Southern District of New York. She is a leading authority on AML programs, corporate governance, regulatory compliance, fraud control and public corruption matters.
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