Océ Business Services Completes Acquisition of CaseData, Inc.21 Nov, 2006
Océ Business Services Completes Acquisition of CaseData, Inc.
NEW YORK - Océ Business Services has completed the previously announced acquisition of CaseData, Inc. CaseData is a leading provider of electronic discovery and litigation support services to U.S. law firms and corporations, with approximately $14 million annualized revenue. CaseData will operate under substantially the same management as it does now within the company's new Records, Compliance and Legal Solutions division.
The Records, Compliance and Legal Solutions division combines imaging and records management from Océ Business Services with the CaseData suite of electronic and paper discovery, forensics, and web-based data review and production services. This will give clients an effective, secure way to proactively manage and collaborate with law firms, partners and government agencies on litigation and regulatory compliance matters.
E-discovery is the identification, collection, processing, review, analysis and production of relevant data from electronic or paper documents, including email. The market is projected to reach $2.4 billion in revenues in 2007 with annualized growth of nearly 40%, according to industry research firm Socha-Gelbmann.
"Rapidly growing E-discovery volume, further fueled by revisions to the Federal Rules of Civil Procedure that take effect in December, requires a more proactive, structured approach to discovery," said Joseph R. Marciano, President and CEO of Océ Business Services. "Increased judicial focus on documents and records, and the requirement to produce all relevant, accessible data in defined formats under acute time pressure, heightens the need for companies to integrate document and records management, discovery and compliance to control these activities. A trusted provider of document and records management services with expertise in litigation-related services can make the difference in fulfilling requirements. The combination of Océ and CaseData services and technology will help us meet these expanding needs of our clients."
"Through its purchase of CaseData, Océ Business Services significantly improves its ability to capitalize on the growth opportunity represented by E-discovery services," said Riley McNulty, Research Manager at IDC. "Creation of the new Records, Compliance and Legal Solutions division not only strengthens Océ Business Services' legal market expertise, it also advances the company's ability to deliver on broader enterprise document requirements. Océ has taken another step forward that improves its capabilities."
The Records, Compliance and Legal Solutions division of Océ Business Services will offer clients a complete, accurate legal document lifecycle management system, including pre-discovery consulting services, collection, data harvesting and restoration, filtering, processing, secure data hosting, review and production of electronic and paper documents.
CaseData was a privately owned company founded in 1996. Its nearly 200 employees, who are primarily based at main operations in Salt Lake City, UT as well as the processing center in the Philippines, now join Océ Business Services. The transaction was completed November 9.