eDiscovery Mergers, Acquisitions, and Investments in Q1 2018

ComplexDiscovery findings, data points, and tracking information that may be useful for understanding M&A+I activity patterns in the eDiscovery ecosystem from January 1, 2018, through March 31, 2018.

eDiscovery Mergers, Acquisitions, and Investments in Q1 2018

Since beginning to track the number of publicly highlighted merger, acquisition, and investment (M&A+I) events in the eDiscovery ecosystem, ComplexDiscovery has noted more than 300 M&A+I events between November 2001 and today.

While not all inclusive due to the fact that M&A+I events are not always publicly disclosed, the abridged listing of M&A+I events maintained by ComplexDiscovery notes key industry business moves by sharing event date, company involvement, and event amount (if known).

Based on an aggregate review of the abridged listing through the lens of Q1 2018, the following findings, data points, and tracking chart may be useful for understanding M&A+I activity patterns in the eDiscovery ecosystem from January 1, 2018, through March 31, 2018.

Five Key Findings

  • There have been at least 14 M&A+I events in the eDiscovery ecosystem during Q1 2018. (n=14) Table View
  • January was the most active month in Q1 2018 for M&A+I events with at least seven total events. Chart #1
  • February was the least active month in Q1 2018 for M&A+I events with two known events. Chart #1
  • The investment pulse rate for the three months of Q1 2018 appears to be congruent with monthly investment patterns since November of 2001. Chart #2
  • Q1 2018 investment pulse rate appears to be greater than investment pulse rate during the same period in Q1 2017. Industry Tracking

M&A+I Data Points

Activity By Month (2018)

  • January – 7
  • February – 2
  • March – 5

Activity By Month (2017)

  • January – 1
  • February – 0
  • March – 2

M&A+I Events

Q1 2018 Discovery M&A+I Chronology

Event DateAcquired (Investee)Acquirer (Investor)Amount (Est. $)
29-Mar-18ForexusLighthouse
26-Mar-18LexisNexis eDiscovery Product SuiteCloudNine
26-Mar-18CloudNine (Investee)Peak Rock Captial (Investor)
21-Mar-18Consilio (Advanced Discovery)GI Partners
13-Mar-18Kroll (Corporate Risk Holdings)Duff & Phelps
21-Feb-18Clearwater LegalCertaTech Solutions
14-Feb-18Hightail (File Sharing)OpenText$20,000,000
30-Jan-18CS Disco (Investment)Bessemer Venture Partners, LiveOak Venture Partners, The Stephens Group (Investors)$20,000,000
29-Jan-18Update LegalDriven Inc.
29-Jan-18Logikcull (Investment)New Enterprise Associates (“NEA”), OpenView Venture Partners, Storm Ventures (Investors)$25,000,000
29-Jan-18KLDiscovery (Investment)WestView Capital Partners, The Carlyle Group, Revolution Growth (Investors)
8-Jan-18Decipher Forensics (Merger)Eide Bailly LLP (Merger)
4-Jan-18Cornerstone TechnologiesSonasoft (Letter of Intent to Acquire)
2-Jan-18Xact Data DiscoveryJLL Partners

M&A+I Tracking Charts

(Charts Can Be Expanded for Detailed Viewing)

Chart #1: An Overview of Merger, Acquisition, and Investment Events by Calendar Month (2018)

Q1 2018

Chart #2: Merger, Acquisition, or Investment Events vs. Month (November 2001 Through March 2018)

Monthly Overview - 2001 - 2018 Q1

Investing in eDiscovery Running Listings

Source: Original Research

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