Wednesday, August 08, 2012

Xact Data Discovery Acquires K&B Document Technologies

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.

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