Wednesday, October 27, 2010

Wave Software Acquires E.L. Native Review from Electronic Legal Software, LLC

ORLANDO, FL and DENVER, CO (October 25, 2010) - Orlando-based Wave Software, a leading provider of early case assessment, legal hold, litigation support and electronic data discovery technology for global corporations, today announced that it has acquired E.L. Native Review from Electronic Legal Software, LLC. E.L. Native Review for LexisNexis Concordance® streamlines the native document review process by displaying a document without the need to have the native application installed (e.g., Microsoft Office®). E.L. Native Review is currently integrated into Wave Software’s Trident Pro and the acquisition allows Wave Software to control more aspects of discovery technology from data creation to production and storage. Financial details of the acquisition were not disclosed.

Trident Pro’s culling and de-duplication module, along with its native file viewer, gives legal teams a clear picture of the type and volume of data that exists in a discovery collection. At this stage of pre-processing, only potentially relevant data is automatically bridged from Trident Pro to common review platforms such as Concordance, where reviewers can then mark documents as privileged or responsive. Concordance is a sophisticated case management software program designed to bring greater efficiency to case preparation by creating one consolidated database for searching, reviewing and annotating documents.

Trident Pro and E.L. Native Review combined extends the capabilities and functionality of Concordance and other common document review platforms. Trident Pro culls, de-duplicates and identifies near-duplicate discovery data in an easy three-step process. It has reduced data collections by about 25 percent, thus reducing the overall amount of time and money spent by clients for processing and attorney review.

Tuesday, October 19, 2010

Grant Thornton UK Acquires UK eDiscovery Provider Legal Inc

Leading financial and business adviser Grant Thornton has announced the acquisition of litigation support and eDiscovery consultancy, Legal Inc to further enhance its forensic advisory service.

Disclosure is a fundamental to any case and goes to the core of any judicial decision that is made. As more business is communicated electronically in the form of emails, computer discs and data held on electronic devices including mobiles and blackberries the significance of e-disclosure has become paramount.

Legal Inc is an established business with an experienced team of 14 who use leading software solutions to deal with how information is now stored by businesses. Legal Inc will enable the Forensic advisory team to search, review and manage the large amount of data that is part of forensic investigations. In addition they will continue to provide solutions to existing clients which include corporate counsel, law firms and Government regulators on early case assessment to file review and electronic presentations.

Audio Search Provider Nexidia Secures $23 Million In Funding

ATLANTA, GA. – Oct. 18, 2010 – Nexidia, the market-leading provider of audio search and speech analytics solutions, today announced that the company has received over $23 million in new equity funding to extend business growth and technology leadership in its key markets. The funding will be used to further develop and protect original research in its core technology and intellectual property, and to increase the company’s operational capacity in the contact center and other markets worldwide.

New investors in this round are BlueCross BlueShield Venture Partners, Sandbox Industries and HarbourVest Partners. They join existing investors HIG Ventures, Paladin Capital Group, Boston Millennia Partners, Morgan Stanley and Cordova Ventures, all of whom added to their equity stake in the company.

"When we invest in high growth companies we look for reliable predictors of commercial success," said Ian Lane, Vice President at HarbourVest Partners. "The company must have a differentiated and defensible technology, provide a substantial and tangible ROI to their customers, show demonstrated traction addressing a large market opportunity, and be led by a management team with a proven ability to execute in a fast paced environment. In Nexidia's case, the team has utilized their patented phonetic technology to create a portfolio of applications that address the universal challenges of creating better products, delivering more effective customer service, and improving profitability."

Saturday, October 16, 2010

D4 Forms Alliance with Canadian eDiscovery Leader Commonwealth Legal

Rochester, NY October 9, 2010 -- D4, LLC, headquartered in Rochester, NY, USA and Commonwealth Legal Inc., of Toronto, Canada have officially bridged their end-to-end eDiscovery services across the border, forming the first alliance of its kind in the eDiscovery industry.

“No other organization in this industry spans all of North America,” says John Holland, CEO of D4. “Our coverage just became the largest in the continent! For some time it’s been our goal to offer local coverage of our services throughout the U.S. Expanding our reach across Canada, in conjunction with Commonwealth Legal, seems like a natural fit and a good progression to our model of serving local markets.”

D4 offers eDiscovery and Computer Forensic services and maintains offices in New York, Los Angeles, San Jose, San Francisco, Omaha, Denver, Lincoln, Grand Rapids, Charlotte, Washington DC, Tampa, Buffalo and Rochester and is currently in the process of opening new offices in Boston and Albany.

“It just made sense,” says Peter Coons, Senior Vice President of D4. “There are countless companies in both Canada and the US that are forced to deal with cross-border litigation. This relationship allows both companies to provide clients with seamless cross-border eDiscovery by addressing and solving jurisdictional issues, differentiations in data hosting requirements and differences of law. The alignment also allows both companies to better serve current client bases and combine our expertise and efforts to essentially form an all-in-one eDiscovery juggernaut.”

Thursday, October 14, 2010

IBM Acquires PSS Systems

ARMONK, NY — October 13, 2010 — IBM (NYSE: IBM) today announced that it has acquired PSS Systems, a privately held company based in Mountain View, Calif. Financial terms of the deal were not disclosed.

PSS Systems' software helps organizations analyze, automate and implement information governance policies across massive amounts of electronic business information and dispose of that information in an automated way. These capabilities are critical elements to remaining responsive to legal obligations while reducing data storage costs.

As information continues to grow at exponential rates, companies across a wide range of industries are looking for ways to reduce the costs of collecting, processing, reviewing and storing information by setting information disposal policies that can meet legal requirements.

To improve the management of data and these increasing legal obligations, Chief Legal Officers and CIOs are investing in software to automate and implement routine enforcement of information governance and retention policies. Needlessly retaining information increases business risk, impedes the ability to respond to legal requests, and puts costs restraints on organizations in every industry.

Wednesday, October 13, 2010

StoredIQ Secures $10 Million Investment

Austin, TX. – October 12, 2010 – StoredIQ Inc., a leading provider of Intelligent Information Management solutions for eDiscovery, records and compliance management, today announced that it has closed $10 million in new investment financing and expanded its management team in preparation for accelerated growth. The financing round, led by PerformanceEdge Partners and existing lead investor S3 Ventures, provides the company with the funds needed to extend its marketing and sales initiatives and grow new partnerships. The company also announced that it has appointed Phil Myers as the new CEO and H.E. Buddy Wilson as vice president of business development to lead those efforts.

StoredIQ has rapidly gained traction with customers across several vertical industries, including financial services, healthcare and oil and gas. This successful round of funding continues StoredIQ’s impressive momentum and growth marked by expanded partnerships with Symantec and Dell, the recent launch of StoredIQ Intelligent Information Management Platform 6.0 and its market-leading eDiscoveryManager application, as well as numerous industry recognitions including KM World 100 Companies that Matter, Network Products Guide 2010 Product Innovation Award, and Info Security 2010 Global Product Excellence Award.

“StoredIQ’s unique approach to addressing real and critical problems that large organizations face in understanding and managing the unprecedented growth of their information repositories is changing the game for its enterprise customers,” said Phil Myers, CEO of StoredIQ. “80 to 85 percent of corporate data today resides in unstructured files, email, SharePoint and other sources that are largely invisible to the company, creating high risk and management costs. I am delighted to join StoredIQ’s leadership team and capitalize on the tremendous market opportunity that now exists to solve this critical information management problem.”

Sunday, October 03, 2010

Stroz Friedberg Receives $115MM Investment from New Mountain Capital

September 30, 2010 -- NEW YORK -- Stroz Friedberg’s unsurpassed expertise in managing digital risk and uncovering digital evidence has helped attract a $115 million investment from New Mountain Capital to fuel and accelerate the company’s growth.

“This investment is with the perfect partner and happens at the perfect time,” says Eric Friedberg, Co-President of Stroz Friedberg. “Over the next three years, the firm plans to expand to key markets in the U.S., Europe, the Middle East, and Asia, as well as broaden its service offerings beyond digital forensics, electronic discovery, cyber-crime response, and investigations to include forensic accounting and intelligence services for businesses. New Mountain is the ideal partner given its strong experience and skill in scaling successful mid-sized organizations into larger companies worthy of public investment.”

Founder and Co-President Edward Stroz says the investment will help Stroz Friedberg meet clients’ increasing digital needs.

“Our clients are demanding more of our expertise for malware analysis, forensic accounting, and e-discovery,” says Mr. Stroz, “and New Mountain Capital shares our vision about the best way to scale and deliver our expertise in the marketplace.”

New Mountain Capital, a New York based investment firm, currently manages more than $9 billion in aggregate capital commitments.

“Data security and digital forensics represent a challenge that touches all businesses, and considering the heightened technological and regulatory risks of today’s world, the need for these services will only intensify,” says Alok Singh, Managing Director of New Mountain Capital. “Stroz Friedberg is a company with a sterling reputation based on the superior quality of its work and its people. We’re excited to be able to help this firm build upon its existing successes.”

New Mountain Capital will own approximately 50 percent of Stroz Friedberg, with the remaining ownership shared by Greenhill Capital Partners II LP, Stroz Friedberg’s initial private equity investor, and Stroz Friedberg’s employees.