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Re: Osborne Clarke say goodbye to all that with £50 million outsource deal
Onsite3 has now issued the following statement…
“Arlington, Virginia (February 5, 2009) – ONSITE3, a leading global provider of electronic evidence solutions for law firms and corporations, today announced that it has filed for reorganization under Chapter 11 of the bankruptcy code, and that it plans to be acquired by Integreon, the global leader of knowledge and legal process outsourcing. The Company also announced today that Integreon has completed the acquisition of ONSITE3's outstanding pre-bankruptcy secured debt and has agreed to provide debtor-in-possession financing to assure ONSITE3's continued operation throughout the reorganization process.
“Integreon's planned acquisition of ONSITE3's electronic discovery business will create an unrivaled end-to-end 'enterprise' set of litigation and compliance services for law firms and corporations under one roof. The expanded scope will include forensics and collection, proprietary E3 processing and eView hosted review applications, and will be coupled with Integreon's onshore and offshore document review,” said Robert Ballou, chief executive officer, ONSITE3. “Our plan is to focus on our growing e-discovery business. We will close our declining paper discovery support operations, but preserve the continuity of our e-discovery operations around the U.S. We plan to immediately transition paper projects to other vendors, allowing us to focus on the core electronic offerings that our clients value most.”
“The comprehensive range of ONSITE3's electronic discovery services and proprietary technologies dovetail well with our document review capability and significantly increases the scale and U.S. footprint of our own EDD capabilities,” said Liam Brown, CEO of Integreon. “This planned transaction will result in the creation of a $40 million national electronic discovery division of Integreon with industrial-scale processing centers in Washington, DC and New York City, along with review centers in the U.S., India and the Philippines.”www.onsite3.com
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