Thursday, July 15, 2010

Thomson Reuters Acquires CaseLogistix From Anacomp

Monica Bay reports in Law Technology News on July 14, 2010

In what signals a significant move into the e-discovery market, Thomson Reuters has purchased CaseLogistix from San Diego's Anacomp. Terms of the deal were not announced.

CaseLogistix offers document review, data ingestion, and production tools to help litigation teams manage the electronic discovery review process, says TR. "The acquisition is a critical next step in furthering the Thomson Reuters litigation strategy," says Allison Guidette, TR Legal's vice president and general manager of litigation (and formerly an executive with Merrill Corp.). The CaseLogistix team will be under her umbrella.

Tom O'Connor, a longtime member of LTN's Editorial Advisory Board, served as an independent consultant for CaseLogistix from 2006-2009, writing white papers, and conducting webinars and focus groups about e-discovery processes. The acquisition, he says, shows that there's been no slowdown in the efforts of large companies aquiring small EDD firms, in order to create "end-to-end" offerings. "More specifically, this signals to me that TR is serious about that market, and is finally taking steps to counter the immense EDD and litigation support market presence of LexisNexis."

Says Craig Ball, LTN's EDD columnist, says "it's exciting to see Thomson dipping its toe in the e-discovery ocean. Acquiring CaseLogistix suggests the emergence of a broader EDD strategy, because CaseLogistix , by itself, does not an EDD vendor contender make." The more intriguing question is what the sale means for Anacomp's future, as it had reportedly divested itself of at least one other acquisition to focus on CaseLogistix ," says Ball. "What fills the big hole left by CaseLogistix -- a flagship product -- if Anacomp plans to stay in the industry?"

Will Thomson Reuters Legal look in the neighborhood for its next EDD acquisition? Time will tell.

Monica Bay is editor-and-chief of Law Technology News, and is a member of the California Bar.

Tuesday, July 06, 2010

Veritext Acquired by Investcorp

NEW YORK, July 6 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products, announced today that it has acquired Veritext Holding Company, a leading national provider of deposition and litigation support services to law firms, Fortune 500 corporations, and regulatory agencies in the United States. The terms of the transaction were not disclosed.

Veritext was acquired from an investor group led by The Riverside Company and members of the management team that bought the company in August 2005.

Veritext has its headquarters in New Jersey and operates within the stable and growing legal services industry through its 30 locations across six core geographic regions in the largest legal markets in the United States. The company provides technology and services that capture testimony during a deposition which is a critical part of the discovery phase of most civil litigation cases in the United States.

"Over the past several years, Veritext's management team, led by CEO Michael Sandler and COO Nancy Josephs, has built a market leading company by leveraging its proprietary technology to offer a variety of highly differentiated deposition services," said Chris McCollum, a Managing Director in Investcorp's private equity business. "We believe that Veritext has multiple ways to grow. It has a leading position in the growing deposition services market, the capability to generate strong free cash flow and the opportunity to complete further add-on acquisitions.

Saturday, July 03, 2010

Unify and Daegis Merge to Become Industry’s Most Comprehensive eDiscovery Company

ROSEVILLE, Calif. and SAN FRANCISCO, Calif., – June 29, 2010 – Unify Corp. (NASDAQ: UNFY), a global information management company, and Daegis, a leading eDiscovery solutions provider, today announced that they have merged. Together, the companies will deliver industry-first solutions that integrate information archiving with electronic discovery management to bring organizations flexibility, scalability and predictability across the entire litigation lifecycle.

Under the terms of the agreement, Unify will pay approximately $38 million in a combination of cash, seller financing and stock, detailed more fully below. For the twelve months ended April 30, 2010, Daegis generated approximately $23 million in revenue and $6.5 million in adjusted EBITDA.

By merging, Unify and Daegis will bring new solutions to market that uniquely address the convergence of archiving, information governance and eDiscovery. The combination of Unify’s archive repository and Daegis’ eDiscovery services and technology will facilitate a new level of data management and cost savings for corporate legal departments and law firms. Clients can strategically manage their data within the firewall and, by leveraging Daegis’ eDiscovery Analytics Consulting (eDAC), benefit from intelligent selection of responsive data early in the process. The integration of technologies will enable the preservation and repurposing of valuable attorney work product across multiple matters. These solutions will reduce costs, increase defensibility and furnish a blueprint for repeatable success across the Electronic Discovery Reference Model (EDRM).