Thursday, April 10, 2014

New York based Smart Data Consulting purchased by Xerox

NORWALK, Conn, April 8, 2014 -- Xerox Corp. said Tuesday it has purchased Smart Data Consulting Corp., a New York legal electronic discovery services firm.

Xerox announced the acquisition of Smart Data Consulting — a move that significantly boosts the range of products that Xerox Litigation Services (the printing giant's e-discovery division) can offer clients in the legal and corporate enterprises.

Smart Data established itself as an authority on Viewpoint, the e-discovery platform developed by Lateral Data (a company that Xerox bought in 2012). It enables corporate legal departments and law firms to manage the entire e-discovery lifecycle using a single product, consolidating tasks such as collection, processing case assessment and analytics.

Smart Data provides hosted and on-site services using the Viewpoint software. The acquisition will blend key capabilities from each company, said Manoj Sharma, executive managing director of Xerox Litigation Services:
Smart Data's depth of expertise and customer-focused team will be a valuable addition both to Xerox and for our clients choosing to use Viewpoint to manage their e-discovery projects.
It's likely that Smart Data's e-discovery managed services, via Viewpoint, will fill the gap left by Xerox's existing technologies — the OmniX cloud-based review platform and the CategoriX technology-assisted review service.

Beyond rounding out Xerox's suite of services, the Smart Data acquisition consolidates the playing field in the e-discovery market.

Wednesday, April 09, 2014

National Legal Services is Formed with $8 Million in Financing from Central Valley Fund

The Central Valley Fund provided $8 million financing for Temecula-based litigation support company RSP & Associates to buy Quest Discovery Services.

Sacramento, April 8, 2014 -- Based in Davis and Fresno, the Central Valley Fund provided the acquisition capital in March. It announced the deal today.

The two companies will combine under the name National Legal Services LLC, and the new company will be led by Ken Croney, the current CEO of Quest. RSP has a single office in northern San Diego County.

Quest is based in San Jose and has offices in Sacramento, Los Angeles, Santa Rosa and Fresno.

Ed McNulty, partner with the Central Valley Fund, takes a board seat at the newly formed company.

Started in 2005, the Central Valley Fund is a lender that uses mezzanine lending or preferred equity financing to help mature companies expand or to fund buy outs. Mezzanine financing is an intermediate step in financing. It is basically the sale of equity to the lender. The debt is junior to bank debt, and it improves the creditworthiness of the company. The lender gets repaid by being bought out either by the borrower or in a larger sale.