Wednesday, August 06, 2008

Fios and Exterro Form Business Partnership

This is an interesting partnership which addresses legal hold and management services. Both companies have raised capital over the past couple years. Fios raised $17.6 million in capital as of 2006 and Exterro has raised close to $5 million from a very small group of investors.

PORTLAND, Ore. — August 5, 2008 — Fios® Inc., dedicated exclusively to delivering comprehensive electronic discovery services to corporations and their outside counsel, today announced that it has formed a strategic partnership with Exterro®, a leading provider of legal hold and discovery management software solutions for the legal industry. Fios and Exterro are now working together to help corporations implement effective, defensible approaches for managing legal holds in response to e-discovery for litigation and investigations. With this partnership, Fios will provide its full suite of business process and technical consulting services to support the implementation of Exterro's Fusion legal hold management application.

"Effectively managing legal holds in response to preservation obligations has become one of the most critical issues needing to be addressed by corporations facing litigation or investigation," said Prashant Dubey, senior vice president of Fios. "Fios has been formulating and implementing legal hold management business processes for our Fortune 1000 clients for the past five years. As part of our services, we partner with leading technology providers to help our clients automate their processes, in support of the risk mitigation and cost control goals of the corporation. We are excited to partner with Exterro to provide consulting and implementation services for Exterro Fusion's legal hold solution."

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