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EPIQ Systems, Inc., a provider of technology solutions for the legal profession, has acquired De Novo Legal LLC, a U.S. e-discovery provider, for an approximate $70 million.
For 2011 on a pro forma basis, De Novo represents an estimated 30 to 40 percent revenue increase to Epiq’s projected standalone e-discovery segment.
Christopher Olofson, president and COO of Epiq Systems, was quoted as saying in the December 28th nasdaq.com press release: “Today’s acquisition further advances Epiq’s leadership position in the attractive e-discovery space. With a strong customer base and extensive track record for successful client engagements, De Novo is an excellent addition to our e-discovery business. We see a significant opportunity in 2012 and are positioned well for strong growth.â€
The company’s credit facility funded the closing consideration. As well, the transaction includes a deferred cash component and an opportunity for contingent consideration based on future revenue growth.
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Epiq said De Novo Legal has particular prominence in managed review services.
Epiq, headquartered in Kansas City, Kansas, had originally introduced an organically developed service extension for managed review in 2009. Epiq said the De Novo acquisition further strengthens its global e-discovery franchise, providing corporate legal departments and law firms with full-service capabilities to manage electronic information for discovery, investigations, regulatory issues, compliance, and related legal matters.
Epiq said De Novo has document review centers in key strategic locations in the United States and is among the largest providers of managed review and staffing services. De Novo also offers clients e-discovery processing and hosted review platforms.
Epiq has full-service e-discovery operations in New York and Phoenix domestically, and London and Hong Kong internationally.
Epiq Systems is a leading provider of integrated technology products and services for the legal profession. Our software applications and Web-based platforms offer case management and document management solutions for electronic discovery, legal notification, claims administration, and controlled disbursement.
Top law firms, corporate legal departments, bankruptcy trustees, and other legal professionals rely on Epiq Systems for full lifecycle support of administratively complex matters spanning bankruptcy, class action, settlements, financial transactions, litigation and regulatory compliance. We offer clients extensive professional services based on deep subject matter expertise and years of firsthand experience working on many of the largest, most high profile and complex client engagements.
Epiq Systems, Inc. has fourteen locations in the United States, Europe and Asia and trades on the NASDAQ national market under the symbol EPIQ.
De Novo Legal was founded in 2001 and is solely focused on operating the entire lifecycle of E-Discovery projects. Its full service solutions offer the legal industry’s only Integrated Electronic Discovery platform available on a dedicated national footprint. De Novo Legal’s clients enjoy a single point of accountability to manage and operate the full lifecycle of E-Discovery projects, wherever required.
The company’s strategic goal is to work with a limited number of national clients in order to provide extraordinary service. By having fewer clients, data can be processed within hours and document review projects can begin the next day. Clients cannot wait for projects to start and we have invested heavily in dedicated resources to insure that they don’t.
De Novo Legal’s sole focus on Integrated E-Discovery solutions provides an extraordinary amount of high-level service to law firms and corporate legal departments. De Novo Legal has the proven experience and depth of knowledge to assist with the daily operation of projects, thus relieving the burden currently overwhelming a legal organization’s own staff. De Novo is flexible to the changing needs and future trends of E-Discovery and Document Review and has made the large investment required to offer highly available and scalable solutions.
