Thursday, February 26, 2009

LuciData Acquires eDiscovery Provider Juritek.net

MINNEAPOLIS, February 23, 2009 — LuciData Inc., a leading provider of eDiscovery and computer forensic investigative services and solutions, today announced it has acquired Juritek.net, Ltd, a Minneapolis based provider of eDiscovery services and solutions.

The combined company will operate under the LuciData, Inc. name and will offer law firms and corporate legal department’s eDiscovery services ranging from initial data collection, preservation, forensic analysis, complex search capabilities, online review and also document production services.

The acquisition is LuciData, Inc.’s first and is a reflection of their rapid growth and desire to expand into new eDiscovery services and markets. LuciData’s core business of computer forensic collection and analysis represents the beginning of the eDiscovery process as defined by the EDRM model (www.edrm.net). The addition of Juritek, which provides electronic data processing, review, and production services, allows them to offer a broader range of services to their clients and is more cost effective and easier to manage.

“More of our clients are looking for vendors that can provide a range of eDiscovery services under a single engagement model, said Jeremy Wunsch, founder and CEO of LuciData, Inc. Juritek shares our common vision of providing excellent customer service and cost effective services while leveraging the very latest in eDiscovery technology. They were a natural fit for the LuciData organization”.

Monday, February 23, 2009

Integreon Pays $9 Million for Bankrupt Onsite

As a follow up to my previous post titled Integreon Purchases Onsite3's Secured Debt Before Onsite3 Files Chapter 11 , it has been reported that Ayala Corp., the holding company of Integreon, paid $9 million for the bankrupt Onsite.

BussinesWorld Online News Story:
Rufino Luis T. Manotok, chief finance officer of the country’s oldest conglomerate, told BusinessWorld the firm, through BPO unit Integreon Managed Solutions, Inc., had bought Virginia-based On-site Sourcing, Inc. for $9 million.

"The company will focus on investing in the BPO industry. While its growth rate might slow down, the industry will still grow," Mr. Manotok said in an interview on Friday.

Last year, revenues of the local outsourcing industry went up by more than a quarter to $6 billion and are expected to grow by as much as a third this year.

"In times of stress that’s when opportunity will arise, and we do not want to be caught in a situation where there is [an acquisition] opportunity and we do not have the cash," he said.

Monday, February 16, 2009

Gartner MarketScope for E-Discovery Software Product Vendors 2008

Gartner evaluated 20 vendors across a number of criteria such as: Business Model, Customer Experience, Market Understanding, Sales Execution/Pricing, Offering (Product) Strategy, Product/Service, Sales Strategy and then rated them based on their findings.

Inclusion and Exclusion Criteria
To be included in the MarketScope report, a vendor must meet
the following criteria:
- Have a software product that can be licensed for implementation and use inside a company's firewall.
- Cover at least three of the functional areas of the electronic discovery reference model (EDRM).
- Have e-discovery related product and maintenance revenue equal to or greater than $10 million.

Overall rating of the Market/Market Segment was Positive.

Tuesday, February 10, 2009

Milestone Partners Back Callidus Acquisition of Black Letter Discovery

Black Letter Discovery is the first acquisition by Callidus, a new litigation support consolidation platform sponsored by Milestone, as noted in a recent press release.

Press release: Milestone Partners (“Milestone”) announced that it closed on capital commitments of approximately $230 million for its latest fund, Milestone Partners III, L.P. (“Milestone Partners III”), exceeding its $200 million fundraising target.

Once again Milestone has attracted a diverse investor base, including a wide range of institutional investors, family offices and entrepreneurs. In addition to the participation of nearly all of the investors in the $120 million Milestone Partners II, L.P., Milestone Partners III includes several new institutional limited partners, including public pension funds, insurance companies and funds of funds.

John Shoemaker of Milestone Partners remarked, “Everyone at Milestone appreciates the confidence that both our pre-existing investors and our new investors have demonstrated in our firm, especially in a difficult fundraising environment. We look forward to continuing our disciplined approach to investing in the new fund.”

Milestone has already completed four acquisitions through the new fund, including: Fatz Cafe, a casual dining restaurant chain; Safemark Systems, a provider of in-room hospitality safes; Global Connection, a marketer of prepaid wireline phone service; and Black Letter Discovery, the first acquisition by Callidus, a new litigation support consolidation platform sponsored by Milestone.

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.”

Alexander Gallo Holdings' Family of Companies Renamed to Esquire

ATLANTA (February 3, 2009) – Today Alexander Gallo Holdings LLC, the nation’s leading provider of court reporting and litigation support services, announced that it has rebranded its family of companies under the name of its recently acquired brand, Esquire. Under the reorganization, Alexander Gallo Holdings LLC will remain the parent company of Esquire, which has been restructured into four divisions.

“Today we are introducing the ‘new’ Esquire, a name that is new to Alexander Gallo Holdings, but one with a long history in our industry -- and that now has the solid and stable backing of Alexander Gallo Holdings,” said President and CEO Alexander J. Gallo. “Of course, we will continue to serve our clients with a comprehensive range of products, state-of-the-art technologies and exceptional customer service,” said Gallo. “What is truly exciting, however, is that our new focus is on providing solutions to our clients’ business needs at every step of the litigation lifecycle.”