From Consilio and Xact Data Discovery to CloudNine and Crest Rock, the following findings, data points, and tracking charts highlight information that may be useful for understanding M&A+I activity patterns in the eDiscovery ecosystem from April 1, 2021, through June 30, 2021. During 2Q21 there were at least 18 M&A+I events, a pulse rate that is significantly greater than the investment pulse rate of four events during the same time frame in 2020.
From an investigative report on how an Australian Stock Exchange (ASX) float went sour to investor concerns and reports of talent retention challenges, the following aggregation of recent articles and announcements on leading investigative and analytics software company Nuix may be of interest to business, legal, and information technology professionals within the eDiscovery ecosystem.
“We are very pleased to close the merger with Xact Data Discovery and to see this major milestone in our evolution come to fruition,” said Andy Macdonald, CEO of Consilio who will continue as CEO of the combined company. “Employees will benefit from the increased resources and scale of the combined business which will allow them to focus on what matters most – providing world-class service and solutions for our clients.”
From Special Purpose Acquisition Companies (SPACs) to the recent flurry of legal tech consolidations, Mike Bryant, an industry veteran and partner at Knox Capital Holdings, and John Jacobs, a managing member of Marks Baughan Securities, share information, intelligence, and insight into the legal tech investment landscape during this 20-minute educational presentation and discussion as part of the 2021 Summit on Legal Innovation and Disruption (SOLID) Europe conference on April 29, 2021.
According to Adam Belsher, Magnet Forensics’ CEO, “I’m proud of the team that has gotten Magnet Forensics to this important milestone. Our customers are seeing significant growth of cybercrime and digital evidence related to their investigations globally. The investment in Magnet Forensics, through the IPO, is ultimately an acknowledgement of the importance of these challenges and provides resources to tackle them more aggressively.”
According to Bob Polus, XDD Founder and CEO, “As part of XDD’s ongoing acquisition strategy, Paralaw further expands our brand, services and market reach on an international stage. The Paralaw team brings a solid reputation to the XDD table in providing advanced short and long-term legal staffing solutions.”
“This is a significant step for Consilio and XDD to bring together our respective strengths to deliver a more complete experience to the whole spectrum of client needs,” said Andy Macdonald, the Chief Executive Officer of Consilio who will continue as CEO of the combined company. “Joining our companies together will provide exponential growth opportunities for our clients. We believe our employees’ experience is directly connected to their ability to provide world-class service and solutions for our clients.”
According to Bob Polus, XDD Founder and CEO, “As the market demand for remote and onsite managed review services continues to grow, adding Lexolution’s expertise to the XDD services mix further expands our bench depth and breadth. Coupled with their broader legal staffing services, the Lexolution team brings a wealth of experience and expertise to the XDD table as we continue to expand our Managed Review Services in key markets nationwide.”
According to Phil Goodwin, Research Director, IDC, “The last 12 months have underscored how organizational agility is at a premium, and IT leaders are increasingly turning to cloud technologies to increase business resilience and velocity. Companies able to simplify complex data protection processes, particularly by leveraging the cloud, can gain strategic advantage through better data availability and Druva Cloud Platform is architected to make it a compelling choice for organizations navigating cloud migrations.”
According to Jorge Zeledon-Castillo, CEO at Zeledon-Castillo, “Joining forces with XDD further empowers our ability to provide advanced eDiscovery and litigation support services to our clients in southern Texas. XDD’s reputation for instilling optimized processes and communications is second to none. Coupled with their advanced technologies, we look forward to integrating our people and clients into the XDD ecosystem.”