In the latest M&A deal involving e-discovery this year, Exterro acquires digital forensic investigation tech provider, AccessData, pegging the value of the transaction in the nine-figures. The financial specifics of the deal were not disclosed.
Convergence in the legal industry of privacy, e-discovery, digital forensics and cybersecurity compliance drove the deal, said Exterro CEO Bobby Balachandran. "That's what corporations are looking for," he said, noting he thinks the combined company is "a game changer for the market."
Building on previous years, 2020 has seen a string of deals and new ventures involving the e-discovery sector.
E-discovery company HaystackID merged with data services company NightOwl Global in August to create what the companies called a "global eDiscovery leader." HaystackID on Thursday said the company brought on a new deputy general counsel for global discovery and privacy, building on its growth. The company hired Jennifer Hamilton, who led John Deere's e-discovery operations.
Among other deals this year, Xact Data Discovery announced acquisitions of two e-discovery companies in July. KPMG in October announced an expansion of its global e-discovery offering, as well, partnering with software company RelativityOne.
Aside from vendor deals, Nelson Mullins Riley & Scarborough said last month that it would acquire e-discovery law firm, Redgrave, to create what they called the largest information and discovery law practice. The deal, which was set to take effect Dec. 1, intended to combine Redgrave with Nelson Mullins' e-discovery and information governance practice, Encompass, to create a merged practice called Encompass Redgrave.
The latest transaction brings together Portland, Ore.-based Exterro's privacy, information governance, incident and breach management solutions, among others, with Ulem, Utah-based AccessData's forensic data collection and analysis capabilities, the companies said.
Morris Manning & Martin and Reed Smith served as legal counsel to Exterro and Honigman served as legal counsel to AccessData, according to a representative for Exterro. JMP Securities served as the exclusive financial advisor, the representative said.