Minneapolis, MN -- August 3, 2012
Mission, Kan.-based Xact Data Discovery will absorb Minneapolis-based
K&B Document Technologies in a deal that closed on August 1, said
Xact President and CEO Bob Polus and K&B President Nick Barry.
Xact is a data-discovery and management service provider with legal,
corporate and government clients and 16 offices outside of Minnesota.
K&B, a document-processing and management provider serving law firms
and corporations, had about $3.5 million in revenue in 2011. The
combined Minnesota business, operating under the Xact brand, will have
about $6.5 million in revenue and about 65 employees.
Barry and co-owner Brad Kair will retain an equity stake as partners. Other terms of the deal were not disclosed.
Xact will move its Minneapolis office to K&B’s downtown Minneapolis office. Layoffs are not expected, Polus and Barry said.
Wednesday, August 08, 2012
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