Editor’s Note: The acquisition of Novitas Data by Proteus Discovery Group highlights the growing need for comprehensive eDiscovery services in a rapidly expanding market. The eDiscovery industry is forecasted to grow from $15.09 billion to $22.65 billion by 2028, driven by the increased volume of data and the need for efficient management solutions. For cybersecurity, information governance, and eDiscovery professionals, this acquisition means access to enhanced forensics, scanning, and data management services across the U.S., enabling them to stay competitive and compliant in a data-driven world.
Content Assessment: Proteus Discovery Group Expands National Presence with Acquisition of Novitas Data
Information - 92%
Insight - 90%
Relevance - 93%
Objectivity - 92%
Authority - 94%
92%
Excellent
A short percentage-based assessment of the qualitative benefit expressed as a percentage of positive reception of the recent article from ComplexDiscovery OÜ titled, "Proteus Discovery Group Expands National Presence with Acquisition of Novitas Data."
Industry News – Investment Beat
Proteus Discovery Group Expands National Presence with Acquisition of Novitas Data
ComplexDiscovery Staff
As the demand for smarter, faster legal data solutions grows, Proteus Discovery Group is taking a major step forward with the acquisition of Novitas Data, doubling its service capacity and expanding its geographic reach from coast to coast. This strategic move strengthens Proteus’ position as a national eDiscovery leader, enhancing its offerings with digital forensics, Relativity server technology, and expanded scanning services.
Founded in 2015 by a group of former AmLaw 100 litigators, Proteus initially focused on organic growth and developing partnerships with leading technology providers such as Relativity. With the acquisition of Novitas Data, a company with deep roots in digital forensics and eDiscovery since 1997, Proteus extends both its service portfolio and geographic reach, establishing itself as a national player in the industry.
Expanding Capabilities
Novitas Data has long been recognized for its innovative use of Relativity server technology, which, when combined with its scanning and forensic capabilities, helped clients navigate complex data challenges. Integrating these services will allow Proteus to meet the rapidly evolving needs of the eDiscovery market while providing clients with greater value through a comprehensive range of solutions.
“We are thrilled to bring Novitas into the Proteus family” said Ray Biederman, Proteus Co-Founder and CEO. “This acquisition broadens our service offerings and geographic reach, allowing us to be more adaptable to our clients’ changing needs. We are excited to add additional subject matter experts who are committed to delivering clients with the excellent work product and experience on which Proteus prides itself.”
Rob Oliver, Co-Founder and CEO of Novitas Data, echoed this sentiment, noting the strong alignment between the two companies. “The alignment between our companies’ vision and culture is really strong. I am excited to add Novitas’ time-tested expertise to the Proteus team. Together, we will enrich our clients’ experience and continue to innovate in the eDiscovery space.”
Market Trends and Growth in eDiscovery
This acquisition comes at a time when the eDiscovery market is experiencing significant growth. According to recent market data, the global eDiscovery market is set to expand from $15.09 billion in 2023 to $22.65 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 8.46%. This growth highlights the increasing demand for efficient data management and analysis solutions in the legal, corporate, and government sectors.
Several factors are driving this expansion, including the ever-growing volume of data and the rising need for more sophisticated tools to manage, analyze, and retrieve critical information. As organizations face more complex litigation, compliance challenges, and regulatory requirements, the need for integrated eDiscovery services is escalating. Proteus’ acquisition of Novitas positions the company to capitalize on these trends, offering cutting-edge technology and expert services to meet the market’s evolving demands.
Coast-to-Coast Service Expansion
With this acquisition, Proteus will now have a more prominent footprint across the United States, offering comprehensive eDiscovery services from coast to coast. The company, which already boasts a robust suite of eDiscovery technology solutions, will now be able to provide even more value through its new digital forensics and scanning capabilities. This allows Proteus to support clients in identifying, collecting, processing, and analyzing critical data more efficiently.
Novitas Data’s adoption of Relativity server technology—an industry-leading platform for managing complex eDiscovery matters—enhances Proteus’ service offerings, enabling the firm to provide advanced data management solutions. Combined with Proteus’ reputation for transparent pricing and candid client communications, the acquisition solidifies the firm’s standing as a cost-effective, full-service provider for organizations navigating complex legal data landscapes.
Arbor Ridge Partners, a trusted advisory firm specializing in M&A services for legal technology companies, acted as the advisor to Novitas Data in this acquisition. With their deep understanding of the eDiscovery and legal tech markets, Arbor Ridge Partners played a key role in ensuring a smooth and successful transaction, aligning the strategic goals of both companies.
Strategic Growth in the Legal Technology Market
Proteus’ acquisition of Novitas represents a broader trend in the legal technology market, where companies are increasingly seeking to consolidate and expand their offerings to meet the growing demand for integrated eDiscovery and information governance solutions. As litigation and compliance demands grow more complex, companies need solutions that can handle large volumes of data while maintaining regulatory compliance and delivering actionable insights.
This acquisition positions Proteus to continue its growth trajectory, building on its expertise and leveraging the new capabilities brought by Novitas. With a strengthened team and a broadened service portfolio, the combined company is well-equipped to provide clients with innovative solutions for managing and processing legal data.
As Proteus Discovery Group integrates Novitas Data’s expertise into its expanding portfolio, it stands poised to deliver even more innovative and efficient eDiscovery services to its growing client base. With the legal technology market on a steady growth path, the question remains: How will your organization stay ahead in managing its ever-increasing volume of legal data?
News Sources
- Proteus Discovery Group Expands with Acquisition of Novitas Data
- Proteus Discovery Group Acquires Novitas Data
- The Next Five Years in eDiscovery: Market Size Forecast for 2023-2028
Assisted by GAI and LLM Technologies
Additional Reading
- An Abridged Look at the Business of eDiscovery: Mergers, Acquisitions, and Investments
- eDiscovery in 2024: A Midyear M&A Pulse Check
Source: ComplexDiscovery OÜ