Kroll Ontrack was bought for $410m in an all cash transaction.
Legal and technology consulting services company LDiscovery has agreed to acquire Kroll Ontrack, a data recovery and discovery company for $410m.
In this regard, LDiscovery and Kroll Ontrack’s parent company Corporate Risk Holdings have entered into a definitive purchase agreement. The transaction will be an all-cash transaction.
LDiscovery is a portfolio company of The Carlyle Group and Revolution Growth. It provides legal and technology consulting services to law firms, Fortune 500 companies and government agencies.
It claims to have a worldwide client-base of 12,000 and its offices are present in 19 countries, employing about 1,300 people.
It employs attorneys, developers, digital forensic analysts and litigation support professionals. LDiscovery CEO Chris Weiler said: “By offering best-in-class eDiscovery and data recovery solutions across many market segments, Kroll Ontrack has built an impressive platform, loyal client base and a strong leadership position.
“We are delighted to welcome Kroll Ontrack employees to the LDiscovery family and look forward to leveraging our combined expertise to offer clients innovative eDiscovery solutions and superior client service.”
“With this combination, LDiscovery customers will have access to Kroll Ontrack’s global footprint, proprietary review platform and the world’s best data recovery services, while Kroll Ontrack customers will leverage LDiscovery’s proprietary suite of eDiscovery technology, including our remote collection tool, ESI processing platform, eDirect365, and our award-winning Relativity integrations, as well as the eDiscovery industry’s most advanced and robust hosting infrastructure.
“There truly is a lot for our combined employee and client base to be excited about today.”
Weiler is expected to become the joint CEO of both the companies after the acquisition is completed by the end of this year.
Corporate Risk Holdings CEO David R. Fontaine said: “Today’s announcement represents another milestone in the ongoing transformation of Corporate Risk Holdings.
“Partnering with LDiscovery will enable Mark Williams, Kroll Ontrack’s Chief Executive Officer, and his entire team to continue to advance and grow the business, delivering the same unwavering commitment to quality and exemplary client-service that clients deserve and have come to expect.
“Our Kroll business will continue to work closely with Kroll Ontrack to meet current and future client needs, drawing upon each organization’s core strengths and capabilities.”