Friday, February 06, 2009

Integreon Purchases Onsite3's Secured Debt Before Onsite3 Files Chapter 11

Onsite3, which provides litigation-support services for law firms, filed for Chapter 11 bankruptcy protection Feb. 4 in the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria.

It is the first time the Arlington-based company has filed for Chapter 11 in its 18 years of existence.

The company announced on Friday that it will be bought by Integreon, a provider of outsourced knowledge, legal, and administrative support services, both onshore and offshore. The transaction is expected to close within 45 days.

Onsite3’s lineup of electronic discovery offerings include data forensics and collections, data processing and hosted document review.

Integreon completed the acquisition Onsite3’s outstanding pre-bankruptcy secured debt and has agreed to provide debtor-in-possession financing to assure its continued operation throughout the reorganization process.

“There will be absolutely no disruption in service to our clients,” said Robert Ballou, chief executive of Onsite3. “We will discontinue only our paper related operations and we will transition this work to other vendors.”

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