KLDiscovery Continues Buying Spree With Superior Document Services Acquisition
As the wave of e-discovery consolidations continues, KLDiscovery announces its third acquisition in six months.
January 08, 2020 at 05:20 PM
3 minute read
Today, KLDiscovery announced it has acquired fellow e-discovery platform Superior Document Services Inc.
Financial details of the acquisition were not disclosed, and KLDiscovery did not respond to requests for comments by press time.
Superior Document Services offers e-discovery, litigation support, data hosting and computer forensics support. KLDiscovery currently offers a suite of tech products that similarly includes e-discovery, information governance and digital forensic services and solutions, Office 365 migration and management enterprise tools.
Superior's Richmond, Virginia, location is also familiar territory to KLDiscovery. The company is headquartered in McLean, Virginia, outside of Washington D.C. and a two-hour drive from Richmond.
Superior also adds to KLDiscovery's growing office count, which includes 11 U.S. and 19 international offices. The uptick in office space is a result of KL Discovery's steady acquisition of competitors.
In July 2019, KLDiscovery announced it acquired Strategic Legal Solutions and Compiled. At the time, KLDiscovery said in prepared remarks that the recent acquisitions highlighted the company's commitment to finding and acquiring "entrepreneur-led acquisition targets that enhance its global footprint, technology capabilities and client base."
In a press release announcing the Superior acquisition, KLDiscovery noted its "long history" of acquiring companies that include AlphaLit, Turnstone, FlashData Solutions, RenewData, Credence Corp., CopySecure, Elite Document Solutions and Kroll Ontrack. The acquisition of Kroll Ontrack in 2016 by then-LDiscovery was significant, not only for the combining of two industry giants, but also to the 2018 renaming of KrolLDiscovery to KLDiscovery.
To be sure, KL Discovery isn't the only e-discovery company acquiring counterparts. This Tuesday, Legility announced it acquired e-discovery platform Inventus to expand e-discovery into regulatory compliance. That deal preceded an August 2019 acquisition of iControlESI and 2017's DSicovery pickup. Meanwhile, Xact Data Discovery acquired QDiscovery in July 2019 to strengthen its position in the Midwest and East Coast.
Industry observers note the wave of acquisitions and consolidations are fueled by corporate legal departments taking a more hands-on approach to discovery, according to an October 2019 Legaltech News article.
"You see a lot of consolidation within the provider market right now, and it's because everyone is trying to build up a platform-type approach with a comprehensive set of tools," said Exterro marketing director Mike Hamilton. "Because that is a demand that is growing."
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