Xerox Expands Electronic Discovery Services Offerings with Acquisition of Lateral Data
DALLAS, July 2, 2012 -- Xerox (NYSE: XRX), today announced the acquisition of Lateral Data, a leading e-discovery technology provider, for $30 million. Lateral Data’s flagship software, Viewpoint™, brings simplicity and affordability to e-discovery by enabling corporate legal departments and law firms to manage the entire e-discovery lifecycle using a single, in-house solution. E-discovery is the process where electronic data is sought, located, searched and secured for potential use as evidence in legal and regulatory matters.
The acquisition solidifies Xerox’s position in the e-discovery market by complementing the services, technology and consulting offerings of Xerox Litigation Services. Xerox estimates the enterprise e-discovery market will be approximately $1.6 billion by 2013.
Viewpoint helps legal and IT departments and law firms to lower the total cost of e-discovery by streamlining cumbersome and time-consuming processes that traditionally require the purchase of disparate products and services from multiple vendors. Using Viewpoint, clients can simplify the collection, analysis, review and management of data across complex information sources – including social media, servers, email, desktops and cloud-based email and business collaboration platforms like Google Docs and Microsoft SharePoint – all from a single platform. Viewpoint can be deployed in the cloud or installed behind the client’s firewall.
“Viewpoint offers the most comprehensive and integrated e-discovery functionality available in a single software solution,” said Randall Burrows, managing director of Xerox Litigation Services. “With the acquisition of Lateral Data, Xerox now offers customers greater flexibility for meeting their e-discovery needs. Clients can choose a full service cloud-based approach, a do-it-yourself on premise solution or a customized combination of both.”
The Viewpoint platform also offers advanced capabilities for filtering and processing data up to five times faster than any e-discovery software, giving clients the ability to conduct early case assessments and analyze relevant data sooner. This reduces costs related to processing, reviewing and hosting non-relevant data at the beginning of a legal matter.
Founded in Houston in 2003, Lateral Data is used worldwide by Fortune 500 corporations, mid-market companies, some of the world’s largest law firms and boutique litigation firms. Clients include Fenwick & West LLP, Quinn Emanuel, Kramer Levin and two of the largest consulting firms, including Grant Thornton.
“Our company set out to drive better outcomes and predictable costs in e-discovery,” said Matt Berry, founder and president of Lateral Data. “Xerox shares this vision, and by adding Viewpoint to its portfolio Xerox can use its global footprint to make our vision a reality for the entire market.”
Specific offerings now available through Xerox include OmniX™, a SaaS document review tool; CategoriX for technology-assisted review; 24x365 data collection, processing and production services; strategic and technical consulting expertise to support the litigation lifecycle; and Viewpoint.
Lateral Data’s management team and all employees will remain with the company. Offices will continue to be located in Houston.
Xerox Litigation Services is one of the world’s largest providers of electronic discovery technologies and services. With billions of pages of hosted data, tens of thousands of end users and more than 300 employees, Xerox Litigation Services is the trusted partner of leading corporations and their outside counsel, simplifying the e-discovery process from collection through production. Xerox Litigation Services was voted ‘Best eDiscovery’ Provider in the 2010 and 2011 New York Law Journal rankings.
With sales approaching $23 billion, Xerox (NYSE: XRX) is the world’s leading enterprise for business process and document management. Its technology, expertise and services enable workplaces – from small businesses to large global enterprises – to simplify the way work gets done so they operate more effectively and focus more on what matters most: their real business. Headquartered in Norwalk, Conn., Xerox offers business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, transportation solutions, and customer relationship management services for commercial and government organizations worldwide. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. The 140,000 people of Xerox serve clients in more than 160 countries. For more information, visit http://www.xerox.com, http://news.xerox.com or http://www.realbusiness.com. For investor information, visit http://www.xerox.com/investor.
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