Friday, August 29, 2008

RICOH TO ACQUIRE IKON OFFICE SOLUTIONS, INC.

Tokyo — August 27, 2008 — Ricoh Company, Ltd. (TSE: 7752, "RICOH")(President & CEO: Shiro Kondo) today announced that it has reached a definitive agreement with IKON Office Solutions, Inc. (NYSE: IKN, "IKON") to acquire IKON (the "Transaction") through RICOH’s wholly owned U.S. distribution subsidiary, Ricoh Americas Corporation ("RAC"). The Transaction is supported by both RICOH and IKON and has been approved by the Boards of Directors of the respective organizations.

1. Background
RICOH (headquartered in Tokyo, Japan) is a global leader in imaging solutions that has brought to the market innovations such as digitalization, network solutions, and colorization. In the rapidly growing printing and document solution areas, RICOH’s challenge has been to strengthen its channels for assessing customers’ potential needs and making appropriate proposals based on a customer-driven approach. In the extremely competitive U.S. market, Ricoh is committed to further strengthening its sales and support channels....

2. Acquisition Price
Target: IKON Office Solutions, Inc.
Estimated Acquisition Price: U.S. $1.617 billion (approx. JPY 172.1 billion) *1 based on an offer of $17.25 per share. This price is a 33% premium over the average daily closing price of the past 60 days until August 26th. After careful analysis and review of IKON's assets, business operations and prospects, RICOH considers that this price is fair and reasonable.
(*1) Exchange rate is $1 = JPY106.42, unless otherwise noted.

Finance: RICOH will finance the Transaction with a mix of its own and external funding.

Edmond Scientific Company Acquires Access Litigation

FAIRFAX, Va., Aug 28, 2008 /PRNewswire via COMTEX/ -- Edmond Scientific Company (ESC) has completed the acquisition of Access Litigation Support Services (ALSS). Under the terms of the agreement, ESC purchased existing EDD (Electronic Data Discovery) software including NatiVIEW Analytics 2.0 web-hosting solution, as well as proprietary data processing software, both award winning products developed by ALSS. In completing the acquisition, ESC not only complements its flourishing solutions-based litigation support business, but accelerates a strategy of service leadership through technological innovation in a rapidly growing e-discovery market.

"Initially, when we learned more about the solutions offered by ALSS, we were impressed by the gracefulness and power of the software's native file review, search, analysis, and foreign language processing features, as well as the potential to leapfrog our other development efforts and provide the foundation for our hosted review solution," states ESC Founder and CEO, John Pitale. "In keeping with our expressed goal to revolutionize the litigation support industry, we valued Access' market position over other possible alternatives. We intend to use our systems engineering-oriented approach for developing stable, robust solutions specifically tailored for client business processes, quickly building upon the complementary technological strengths and software assets of both companies, so to become a trail-blazer on the EDD frontier."

Wednesday, August 27, 2008

CT Summation Launches Online SaaS Solution

SAN FRANCISCO, Aug 25, 2008 (BUSINESS WIRE) -- CT Summation, a premier provider of litigation support and eDiscovery solutions (EDD), today announced the availability of CT Summation CaseVantage, the company's comprehensive software-as-a-service (SaaS) web application for online eDiscovery hosting. From analysis and review to production and offline integration, law firms and corporate law departments of all sizes will be able to count on CT Summation CaseVantage to manage their complex litigation needs.

CaseVantage is designed for a broad range of law firms and legal departments- from small and local to large and global, and ideally suited for third party processors looking to provide their clients with a proven web based litigation support application and hosting platform. CT Summation's new hosted technology helps legal professionals manage increasingly complex and data-rich cases, provides an infrastructure for dealing with multiple parties or multiple jurisdictions, and enables the management of eDiscovery through a centralized web-based repository.

Fios Forms Strategic Partnerships with iCONECT, Content Analyst and Exterro

Portland, Ore. — August 26, 2008 — Fios® Inc., dedicated exclusively to delivering comprehensive electronic discovery services to corporations and their outside counsel, today announced that it has formed strategic partnerships with three premier technology providers in the e-discovery market. Partnerships with iCONECT® Development LLC, Content Analyst Company LLC and Exterro® further extend Fios' leadership in helping clients reduce cost and risk in the e-discovery business process. The three software providers complement the comprehensive data management and consulting services provided by Fios in the following areas:

Review and collaboration — Fios is adding iCONECT nXT, a world-leading litigation support and collaboration software platform, to the Fios data management center, which is ranked as "Top 5" for capacity in the 2008 Socha-Gelbmann electronic discovery survey. This technology partnership is extending Fios' services in the areas of e-discovery review, foreign language support and litigation case management.

Search and analysis — Fios has partnered with Content Analyst, a leading provider of conceptual search and advanced text analytics software, to help clients search and analyze large amounts of electronically stored information (ESI) during review and in the early stages of e-discovery planning.

Legal hold management — Fios recently announced its partnership with Exterro, the leading provider of advanced workflow technology and automation solutions for legal hold and discovery management. Fios is now the professional services implementation partner for Exterro's Fusion legal hold management application.

Tuesday, August 26, 2008

CaseCentral Migrates eDiscovery SaaS Platform to Oracle®

REDWOOD SHORES, CA -- August 20, 2008 -- CaseCentral, the leading secure SaaS platform for corporations looking to take control of eDiscovery, has migrated its Software-as-a-Service (SaaS) platform to Oracle Database and Oracle Real Application Clusters to deliver better performance, scalability and availability, Oracle announced today.

CaseCentral’s platform allows corporations to apply disciplined business process to litigation and regulatory matters, reducing risk and business disruption, boosting productivity, and controlling costs. CaseCentral has delivered its proven, SaaS platform to over 1,100 customers and more than 7,250 registered users.

CaseCentral actively manages several hundred terabytes of evidence – 95 percent of which is unstructured data such as emails, office documents, and images – and has hosted over 25,000 individual litigation matters.

Saturday, August 16, 2008

TechLit Solutions Receives $1 Million in Start-up Funding

Members of the Delhi-based Indian Angel Network (IAN) have acquired a 20 percent stake in US-based legal process outsourcing (LPO) venture TechLit Solutions for $1 million, valuing the start-up at $5 million. Techlit was started in January 2008 by Neal Gupta (who is also a member of IAN) along with the co-founders of Aptara, a US headquartered firm which offers composition and publication services to publishers of books and journals.

IAN is a Delhi based angel investing forum formed by a group of individuals investors. The investment is done at the personal level of the investors. In TechLit, investors like Rohit Chand (Axis IT&T, IIS Infotech), Rajan Anandan, former Dell chief in India and currently Microsoft MD in India, Avinash Singh (CEO & MD of Excel Ventures), and Ajay Garg (founder of Equirus Capital) have invested.

Tuesday, August 12, 2008

Bridgeway Software Establishes Partnerships with StoredIQ, IPRO Tech and Anacomp

Houston, TX, August 12, 2008 -- Bridgeway Software announced that it has developed a comprehensive electronic discovery solution for in-house legal departments that supports key processes within the electronic discovery workflow - Preservation, Collection, Processing, Review, and Production. Bridgeway E-Discovery assures a repeatable process by design, providing one layer for end-to-end electronic discovery and empowering in-house counsel to demonstrate compliance and control costs.

Bridgeway’s proprietary Legal Hold solution supports the notification and preservation process. Bridgeway has established partnership agreements with StoredIQ, IPRO Tech and Anacomp for the other key processes that drive electronic discovery.

Bridgeway’s Vice President of E-Discovery, Rich Hall, explains, “In selecting technology partners for our end-to-end e-discovery solution, Bridgeway focused heavily on track records of customer service, corporate culture and product quality. The way in which prospective partners interacted with Bridgeway indicated how we could expect them to treat our clients. The selected providers invested time to understand Bridgeway's vision and dedicated resources to ensure that Bridgeway’s vision aligns with their goals.”

For the Identification, Preservation and Collection phase of the solution, Bridgeway sought StoredIQ’s award-winning information management product that has a sophisticated feature set and provides defensible "Chain of Custody" for legal matters. StoredIQ uses leading-edge technology to identify and harvest potentially relevant information and to place that information under legal hold. In less than one hour, the StoredIQ appliance can be deployed and begin generating results.

Friday, August 08, 2008

IBM Unveils eDiscovery ECM Tool for Law Firms

IBM has announced the release of new enterprise content management (ECM) software specifically designed to meet the needs of clients dealing with complex legal discovery requirements. The company's eDiscovery solutions expand on IBM's ECM platform used to manage digitally stored documents, with an eye toward streamlining the discovery process and reducing costs.

According to IBM, the new software provides a variety of automated processes, including collecting, searching and classifying critical data across a variety of content sources, as well as the ability to track changes. The main component of the solution is IBM's eDiscovery Manager, which allows authorized individuals to search for, and retrieve, key documents.

"The explosion of electronic content presents challenges for organizations to retain and produce information efficiently and accurately when needed," said Ken Bisconti, vice president, product and strategy, IBM Enterprise Content Management, in a prepared statement. "Our eDiscovery offerings enable customers to have insight into knowing what information exists, where it is stored, how long it must be kept and how to locate it."

FTI Plans IPO of Tech Division

FTI Consulting Inc. plans IPO of its fast-growing technology division, potentially bringing the Baltimore company hundreds of millions of dollars to position itself for another round of acquisitions.

FTI Consulting, Inc. (NYSE: FCN) announced today its intention to sell a minority interest in its Technology business in an initial public offering (IPO). The Company expects to receive between $600 million and $700 million from such sale. The proceeds from the offering will be used primarily to retire existing indebtedness of FTI. A portion of the proceeds may also be retained by the Technology business to be used for general corporate purposes.

If the IPO is consummated, the Company’s present intention is to distribute its remaining interest in the Technology business to FTI’s stockholders through a spinoff, splitoff or a combination of these transactions within twelve months after the completion of the IPO. The Company’s present intention is to file a registration statement for the IPO by the end of the year.

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."

Tuesday, August 05, 2008

Stratify and PwC Enter Joint Business Relationship

NEW YORK and MOUNTAIN VIEW, CA, August 4, 2008 –PricewaterhouseCoopers LLP (PwC) and Stratify, Inc. a subsidiary of Iron Mountain Incorporated (NYSE: IRM), the global leader in information protection and storage services, today announced a joint business relationship that will enable PwC to provide the Stratify Legal Discovery service to PwC Advisory clients nationally in support of investigations, regulatory matters and litigation.

The Stratify Legal Discovery service enables PwC professionals to help clients respond to planned and unplanned events such as conducting corporate investigations, efficiently responding to litigation, and developing remediation programs and approaches using Stratify’s advanced eDiscovery technology while minimizing their risk and reducing the costs of eDiscovery. Prior to establishing a joint business relationship, PwC conducted an in-depth assessment of the eDiscovery market, during which it tested Stratify’s technology and utilized its capabilities on several client matters.