The ediscovery consolidation continues as Xerox buys Lateral Data for $30 million
Xerox just announced the acquisition of Lateral Data , a leading ediscovery technology provider, for $30 million. Lateral Data’s flagship software, Viewpoint, brings simplicity and affordability to ediscovery by enabling corporate legal departments and law firms to manage the entire e-discovery lifecycle using a single, in-house solution. 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; 24×365 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.