Tuesday, February 23, 2010

Iron Mountain Acquires Mimosa Systems

BOSTON, Feb 22, 2010 -- Iron Mountain Incorporated, an information management services company, today announced it has acquired Santa Clara, Calif.-based Mimosa Systems, Inc., a leader in enterprise-class content archiving solutions, for approximately $112 million in cash, subject to closing adjustments. The deal provides Iron Mountain with an integrated archive for email, SharePoint data and files, and gives the company an on-premises archiving option to complement its existing cloud-based archives.

The ability to archive and manage data both onsite, inside the customer's firewall, and remotely in the cloud makes Iron Mountain a one-stop shop for data capture, archiving and management. It also provides the company's customers with greater flexibility and choice for managing their information.

Additionally, the company can now capture and manage a broader range of enterprise information from so-called "edge-of-the-network" devices like desktop PCs and laptops as well as from company repositories like email stores, SharePoint servers and file systems. Many larger businesses still prefer to keep this data on their premises today. Finally, the acquisition allows Iron Mountain to extract intelligence from the information it manages both on-premises and in the cloud, advancing the company's larger strategy to help enterprises lower the costs and risks associated with storing and managing information.

Saturday, February 20, 2010

Litigation Support Software Comparison Chart

The American Bar Association recently published a report on litigation support software and online document review tools.

Some of the software products compared are:
  • Case Logistix
  • Concordance and FYI
  • CT Summation iBlaze
  • ImageDepot
  • NextPoint
Below is a description of the report as found on the ABA website, which can be downloaded as a PDF by clicking the link below.

Litigation support software is designed to aid lawyers in the process of litigation, and generally includes databases for organizing, searching, and reviewing discovery material including deposition transcripts, produced documents, and correspondence. The comparison chart below includes information on features of several brands of litigation support software. As vendors may offer other packages, please check each vendor's website for additional details and contact information. The information in this chart originates from the vendors, is not a comprehensive review of litigation support software, and does not constitute endorsements of any kind.

Thursday, February 18, 2010

Investment Fund Seeking Acquisition Opportunity in Legal Outsourcing Industry

A private investment fund formed by a team of experienced operators, entrepreneurs, and investors is looking for acquisition opportunities in the legal outsourcing industry.

The seasoned team of investors are looking for the following characteristics in acquisition candidates:
  • A strong track record of growth

  • Revenues of $5m or greater with 15% or better EBITDA margins

  • Senior management looking to exit or bring on a new partner
If you are interested in learning more, please contact me at jenkins.bradley@gmail.com and I will be happy to make an introduction. Serious inquiries only please.

Wednesday, February 17, 2010

Actis Invests US $50 Million in Integreon

16 February 2010 -- Actis announced today that it has invested US $50 million to acquire a substantial minority stake in Integreon, the leading global provider of legal support, research and business services to law firms, financial institutions and corporations.

As part of this investment, JM Trivedi, Actis’s Head of South Asia, and Gautham Radhakrishnan, a Director at Actis, will join Integreon’s board of directors.

Actis has invested alongside Ayala Corporation, the oldest and one of the leading conglomerates in the Philippines, which initially invested in Integreon in 2006 through LiveIt Investments, its business process outsourcing holding company. Ayala Corporation will continue to hold a majority stake in Integreon.

Today, professionals at leading organisations including 11 of the top 50 global brands such as Microsoft; 32 of the AmLaw 50 such as Clifford Chance and DLA Piper US LLP; and 9 of the top 10 global investment banks focus on their ‘highest and best use’ by trusting high-quality research, document, and legal solutions from Integreon. Integreon revenues have grown at an 83% CAGR since 2006 to an $89 million revenue run rate in Q4 2009.

With Actis’s investment, Integreon plans to grow its range of services and technologies, launch new delivery centres, and seek strategic acquisitions.

Thursday, February 11, 2010

Flex Discovery Solutions Acquires ImageWorks Digital Document Solutions

Houston, TX -- 2/10/10 -- Today Flex Discovery Solutions announces the acquisition of Houston, Texas based ImageWorks Digital Document Solutions (ImageWorks). ImageWorks is a litigation support services provider to leading law firms and corporate counsel, both locally and nationally. The company announced that the acquisition is complete as of today and that ImageWorks will operate as Flex Discovery Solutions.

Flex Discovery Solutions will retain 100% of the current ImageWorks staff, including Stephen T. Silkwood, ImageWorks’ CEO and Co-founder, who will become a Vice President and executive team member. Mr. Silkwood has very deep and successful roots in the document management industry, having started with NightRider in Houston helping to grow that organization into the largest legal copy service in the United States. Following the successful sale of NightRider to IKON Office Solutions, Steve went on to serve many executive roles at IKON before launching ImageWorks, including Chief Operating Office of the Legal Document Services division which grew from $12M to $750M during his tenure.

Monday, February 08, 2010

Intermediate Capital Group acquires significant stake in CPA Global

Intermediate Capital Group (“ICG”), a leading independent investor and fund manager, announces that it has acquired a significant minority stake in legal services firm CPA Global, investing alongside the company’s senior management team and the founding shareholders.

The acquisition has received the required approvals from CPA Global shareholders as well as the Jersey courts, which sanctioned a new Scheme of Arrangement that came into effect today. The terms of the transaction are not disclosed.

Founded in Jersey in 1969, originally to manage patent renewals, CPA Global has expanded over the years to become a multinational company that is the clear market leader in the global intellectual property (IP) services market and one of the world's leading providers of broader legal services outsourcing, including litigation support, document review and contract management. The legal services outsourcing sector is expected to grow rapidly over the next few years, with estimates of the potential market value in the tens of billions of dollars.

Saturday, February 06, 2010

Iron Mountain Merger and Acquisition Activity

Came across this article that asks the question "Will Iron Mountain Acquire Mimosa?".

Here is an excerpt:
For what was once a fairly staid Old Economy business, Iron Mountain (IRM) has done a better job than most companies in acclimating itself to the digital age. The records management vendor has accomplished that with eight acquisitions over the past half-decade, picking up technology for online backup and e-discovery, among other offerings. The $158m purchase of e-discovery provider Stratify stands, in many ways, as Iron Mountain’s marquee acquisition for its digital business. It has maintained the Stratify name and, last November, turned its whole digital subsidiary over to Ramana Venkata, the founder and former CEO of Stratify.

After that purchase in October 2007, Iron Mountain stayed out of the market for more than two years, despite many adjacent sectors that it could buy its way into. (And, from what we remember of the past two recession-wracked years, prices for startups weren’t particularly steep.) The M&A drought ended last month with the pickup of a San Francisco-based services company, Legal Imaging Technologies, that provides electronic document conversion. Terms weren’t disclosed.