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Rick Weber Special Guest on Ari Kaplan Advisors Virtual Lunch (#virtuallunch)

Legal industry analyst Ari Kaplan interviews Rick Weber, the co-founder of Arbor Ridge Partners on the Virtual Lunch – August 21, 2020. Watch the interview here.

About Ari Kaplan & Ari Kaplan Advisors
As a leading legal industry analyst, Ari is the founder of Ari Kaplan Advisors and has published over 200 articles, served as an Internet law commentator for CNET Radio and has been interviewed on CNN. He received Apex Awards in 2010, 2008 and 2007 for feature writing, and was named a “Law Star” by LawCrossing. He is the principal researcher for a variety of widely distributed benchmarking reports and has also been the keynote speaker for events in Australia, Canada, the United Kingdom, and throughout the U.S. Ari is also a legal technology and litigation services market researcher, ghost writer, speaker, business coach, event host, and podcaster.

About Rick Weber
Rick Weber is the Managing Partner of Arbor Ridge Partners. Rick started as an attorney at Mayer Brown and then became a federal prosecutor for the United States Securities and Exchange Commission. In 2000, Rick left the practice of law and co-founded Advocate Solutions – becoming one of the pioneers in the eDiscovery industry with the creation of Discovery Cracker. Since then, Rick has personally sold three other litigation technology companies – having led negotiations and due diligence for all of them.

Industry Round-up | August 13, 2020

Recent Legal Technology & Legal Services M&A Activity

Industry News

COVID-19 Update: The Legal Technology & Legal Services M&A landscape has changed since the COVID-19 pandemic broke out. If you are thinking about buying or selling a legal technology or legal services business, or simply interested in learning about the current state of Legal Technology & Legal Services M&A, please email [email protected] or use the following form to schedule a confidential and free consultation with Arbor Ridge Partners.

Recent Legal Technology & Legal Services M&A Activity

June 11, 2020. UnitedLex Acquires Paul Hastings Data Science Group
UnitedLex announced the acquisition of Paul Hastings’ Data Science, Analysis, and Investigations (DSAI) team and its AI-empowered technology services group. The move recognizes the strengths of both companies that collectively creates the offering of: Paul Hastings’ world-leading innovations in data science, AI and the application in Law, combined with UnitedLex’s Digital Legal Transformation, litigation services, eDiscovery, investigations, litigation data management, extraction, and analysis…
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June 22, 2020. Mitratech Acquires CMPG Risk Solutions
Mitratech, a provider of legal and compliance software, today announced its acquisition of CMPG, LLC. By adding CMPG’s products to its existing Enterprise Compliance Suite (ECS), Mitratech will reinforce its range of software solutions for elevating corporate risk management, data privacy, and information governance. Founded in 1998, CMPG provides software solutions for the financial services, healthcare, and insurance industries…
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July 1, 2020. Morae Global Acquires Janders Dean
Morae Global Corporation, a provider of transformative legal services and compliance solutions for corporations and law firms, today announced the acquisition of legal management consultancy Janders Dean. The deal establishes a UK-based legal advisory practice group to assist in meeting growing global demand, especially from large law firms and international in-house legal teams looking to re-evaluate how legal work is done. The UK team will complement Morae’s existing US-based advisory team and will assist clients with legal spend management, resource management, process and policy enhancement, and technology and knowledge service transformation…
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July 7, 2020. Ipro Announces the Acquisition of NetGovern
Ipro Tech, LLC, an eDiscovery, Case Management, and Trial technology software company, is excited to announce the acquisition of NetGovern, an Information Governance, Risk, and Compliance software company. Joining these two global companies and their technologies will provide workflow extending across the entire Electronic Discovery Reference Model (EDRM) from Information Governance, to In-Place Early Data Assessment, through eDiscovery…
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July 8, 2020. Xact Data Discovery Acquires RVM Enterprises
Xact Data Discovery (XDD), a provider of legal services, eDiscovery, data management and managed review services for law firms and corporations, announces the acquisition of RVM Enterprises, an eDiscovery services company based in Jersey City, New Jersey. RVM provides a blend of eDiscovery, Forensics, Managed Review and Media Services to law firms and corporations nationwide…
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July 14, 2020. Xact Data Discovery Acquires LightSpeed
Xact Data Discovery (XDD), a provider of legal services, eDiscovery, data management and managed review services for law firms and corporations, announces the acquisition of LightSpeed Legal, an eDiscovery services company based in Washington, DC. LightSpeed Legal will conduct business operations from its current DC location under the XDD brand. Arbor Ridge Partners served as the exclusive M&A advisor to LightSpeed and arranged this transaction…
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About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for Legal Technology and Legal Services companies; including, litigation support, computer forensics, eDiscovery, legal services, and software companies. With over 40+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, we can help maximize value in the purchase and sale of Legal Technology and Legal Services Businesses. For additional information, please visit www.arborridgepartners.com or call 800-226-2760.

Arbor Ridge Partners advises LightSpeed on its Sale to Xact Data Discovery

Chicago, Illinois – July 14, 2020: Arbor Ridge Partners, the M&A advisory firm dedicated to the Legal Technology and Legal Services industry, is pleased to announce that our client, LightSpeed, has been acquired by Xact Data Discovery (XDD). LightSpeed has been providing litigation support, eDiscovery, managed review, and legal services to the DC area for almost two decades and has established deep relationships with law firms and corporations.

Tony Lehr, LightSpeed CEO states, “Arbor Ridge Partners’ guidance and counsel was critical in getting this deal done. They have an incredible understanding of the legal services industry and deal making, and they became a deeply trusted and key advisor. Joining forces with XDD further expands our ability to serve the DC market across multiple facets of the EDRM. We look forward to integrating our people, processes and clients into the XDD family.”

David Moran, XDD President and COO states, “Arbor Ridge Partners once again proved their reputation as one of our industry’s leading M&A advisory firms. As we continue to expand business operations nationwide, adding LightSpeed Legal to the XDD family further bolsters our physical presence in the DC market.”

Arbor Ridge Partners served as the exclusive advisor to LightSpeed and arranged this transaction.


About Arbor Ridge Partners

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for Legal Technology and Legal Services companies; including, litigation support, computer forensics, eDiscovery, legal services, and software companies. With over 60+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, Arbor Ridge Partners maximizes value in the purchase and sale of Legal Technology and Legal Services Businesses. For additional information, please see www.arborridgepartners.com, email [email protected] or call 800-226-2760.

About Xact Data Discovery

Xact Data Discovery is a leading international provider of eDiscovery, data management and managed review services for law firms and corporations. XDD helps clients optimize their eDiscovery matters by orchestrating precision communication between people, processes, technology and data. XDD services include forensics, eDiscovery processing, Relativity hosting and managed review. XDD has 16 offices throughout the United States and two locations in India. XDD offers exceptional customer service with a commitment to responsive, transparent and timely communication to ensure clients remain informed throughout the entire discovery life cycle.

About LightSpeed

LightSpeed is a full-service legal services company with discovery experts specializing in providing law firms and corporation litigation support services. LightSpeed provides technical expertise in the areas of ECA, e-Discovery, predictive coding, conceptual search technology, web-based review tools, and best practices to ensure proper process and cost containment to law firms and corporations in the Washington, D.C. area and nationally.

Industry Round-up | May 27, 2020

Recent Legal Technology & Legal Services M&A Activity

Industry News

COVID-19 Update: The Legal Technology & Legal Services M&A landscape has changed since the COVID-19 pandemic broke out. If you are thinking about buying or selling a legal technology or legal services business, or simply interested in learning about the current state of Legal Technology & Legal Services M&A, please email [email protected] or use the following form to schedule a confidential and free consultation with Arbor Ridge Partners.

Recent Legal Technology & Legal Services M&A Activity

January 8, 2020. KLDiscovery Acquires Superior Document Services
KLDiscovery, Inc. (“KLD”), a global provider of electronic discovery, information governance and data recovery services, today announced its acquisition of Superior Document Services, Inc. a Richmond, Virginia-based full-service eDiscovery and litigation support provider. SDS was founded in 1998 by Kriss Wilson and Renee Covington and provides eDiscovery and litigation support services to Fortune 500 companies, law firms and government agencies…
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January 10, 2020. Kroll Acquires RP Digital Security
Kroll, a division of Duff & Phelps, a leader in risk mitigation, investigations, compliance, cyber resilience, security and incident response solutions, today announced that it has expanded its cyber security offerings with the acquisition of RP Digital Security, a Singapore-headquartered provider of computer forensic investigations, digital security and eDiscovery services…
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January 15, 2020. Cellebrite Acquires BlackBag Technologies
Cellebrite, a provider of Digital Intelligence Solutions for law enforcement, government and enterprise agencies, announced today it has concluded a definitive agreement to acquire BlackBag Technologies, a provider of Computer Forensic acquisition and analysis software solutions…
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March 9, 2020. OpenText Buys XMedius
Open Text has acquired XMedius, a provider of secure information exchange and unified communication solutions. XMedius has patented technologies to transform secure and collaborative communication, enabling organizations to move more workloads to the cloud and unlock the information advantage. The purchase price of the acquisition is approximately $75 million in an all-cash transaction…
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About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for Legal Technology and Legal Services companies; including, litigation support, computer forensics, eDiscovery, legal services, and software companies. With over 40+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, we can help maximize value in the purchase and sale of Legal Technology and Legal Services Businesses. For additional information, please visit www.arborridgepartners.com or call 800-226-2760.

Industry Round-up | January 15, 2020

Recent Legal Technology & Legal Services M&A Activity

August 8, 2019. iConect Secures Deal with NewField Capital Partners.
iCONECT, a leader in legal technology / ediscovery and makers of the award winning XERA document review platform, struck a deal with NewField Capital Partners, a strategic partner who will fund continual growth and innovation for the company. NewField Capital Partners saw a strategic fit with iCONECT in a growing industry and are looking to capitalize on ediscovery industry opportunities.
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September 4, 2019. XDD Acquires Beyond IT Forensics.
Xact Data Discovery, an international provider of eDiscovery, data management managed review, and legal services for law firms and corporations, announces the acquisition of Beyond IT forensics. Beyond IT, a cybersecurity and digital forensics company based in Houston, Texas.
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November 11, 2019. OpenText Acquires Carbonite, Inc.
OpenText, a global leader in Enterprise Information Management (EIM), announced that it has entered into a definitive agreement to acquire Carbonite, Inc., provider of cloud-based subscription data protection, backup, disaster recovery and end-point security to small and medium-sized businesses and consumers.
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January 7, 2020. Legility, Acquires Inventus
Legility, a provider of legal operations services, announced the acquisition of Inventus, an international eDiscovery and Legal Services provider with locations across Europe, Asia and North America. Following the acquisition, the two companies will combine to broaden technology-enabled services for the legal operations market, enabling access to services, expertise and technology in more locations. The companies will combine business operations in early 2020.
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About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for Legal Technology and Legal Services companies; including, litigation support, computer forensics, eDiscovery, legal services, and software companies. With over 40+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, we can help maximize value in the purchase and sale of Legal Technology and Legal Services Businesses. For additional information, please visit www.arborridgepartners.com or call 800-226-2760.

Rick Weber Interviewed By The Reinventing Professionals Podcast

Reinventing Professionals Podcast Host, Ari Kaplan, interviews Rick Weber, Managing Partner of Arbor Ridge Partners, about Legal Technology & Legal Services M&A and the current trends.
Reinventing Professionals Podcast is designed to offer ideas, guidance, and perspectives on how to effectively navigate a perpetually shifting professional landscape, with a unique focus on the legal industry and the technology that is driving its evolution. Host, Ari Kaplan, is an attorney, author, and leading legal industry analyst. He has been sharing interviews with industry leaders shaping the next generation of legal and professional services since 2009.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for legal software, litigation support, computer forensics, and eDiscovery companies. With over 60+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, Arbor Ridge Partners helps maximize value in the purchase and sale of Legal Technology & Legal Services Businesses. Rick is an attorney and former federal prosecutor and the co-founder of Advocate Solutions – becoming one of the pioneers in the eDiscovery industry with the creation of Discovery Cracker.

Listen To The Podcast

Read The Transcript

RICK WEBER INTERVIEWED BY THE REINVENTING PROFESSIONALS PODCAST – Transcript

Reinventing Professionals Podcast Host, Ari Kaplan, interviews Rick Weber, Managing Partner of Arbor Ridge Partners, about Legal Technology & Legal Services M&A and the current trends.
Reinventing Professionals Podcast is designed to offer ideas, guidance, and perspectives on how to effectively navigate a perpetually shifting professional landscape, with a unique focus on the legal industry and the technology that is driving its evolution. Host, Ari Kaplan, is an attorney, author, and leading legal industry analyst. He has been sharing interviews with industry leaders shaping the next generation of legal and professional services since 2009.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for legal software, litigation support, computer forensics, and eDiscovery companies. With over 60+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, Arbor Ridge Partners helps maximize value in the purchase and sale of Legal Technology & Legal Services Businesses. Rick is an attorney and former federal prosecutor and the co-founder of Advocate Solutions – becoming one of the pioneers in the eDiscovery industry with the creation of Discovery Cracker.

Listen To The Podcast


Ari: This is Ari Kaplan and I’m speaking today with Rick Weber, the co-founder and managing partner of Arbor Ridge Partners, a Legal Technology and Legal Services M&A Advisory Firm. Hi Rick. How are you?

Rick: I’m good, how are you?

Ari: I’m great. I’m looking forward to speaking with you today. So, tell us about your background and the genesis of Arbor Ridge partners.

Rick: I’ll try to do 25 years in less than 25 years. I started after law school in 1994 as a lawyer in Chicago at a firm called Mayer Brown and was there for three years. I left Mayer Brown to become a prosecutor for the United States Securities & Exchange Commission where I got to investigate and prosecute the bad guys – which was a fun job. And then in around 2000, I knew that I didn’t want to stay in the government forever, so at that point I decided to leave. I realized that I really didn’t want to go back into the law firm environment and kind of found myself in a sticky situation and at a crossroads in my career. A good friend of mine at the time was a legal technologist, for lack of a better word, and he and I got to speaking and one thing led to another in the conversation and we decided to take his legal technology background and my legal background and start a litigation software development company called Advocate Solutions.

We ended up developing and pioneering eDiscovery with a product called Discovery Cracker, so for any of your older listeners that should hopefully at least resonate a little bit. We sold that company in 2003 and I stayed on with the company that bought us until 2006. In 2006 I ended up getting involved with another legal technology/legal services startup company called eDirect Impact out of Houston. We were developing some eDiscovery project management tools as well as doing traditional eDiscovery hosting and processing, so it was a combination of litigation software development as well as some legal services. In 2010, we sold 51% of that company to a bigger company that ultimately got bought out. We had yet to be fully integrated into their company at the time that they sold, so through a long series of events ended up getting that company back in 2012. In 2013, I then merged it with a company called Elijah out of Chicago.

Elijah was and is a computer forensics company doing some eDscovery and the CEO and founder of Elijah, coincidentally – or maybe not so coincidentally, was a good friend of mine. His name is Andy Reisman and he also started at Mayer Brown with me back in 1994. He and I had been friends for years and we decided to put those two companies together where we could provide end to end computer forensics work with the eDiscovery piece. As those two companies began to grow, we saw that while they fit really nicely on EDRM model – as a lot of companies in industry see where forensics leads into data harvesting, which leads into eDiscovery processing and hosting – that they’re two very different businesses. One is a technology business where you sell by the gigabyte and the other one is more of a consulting business or even like a law firm where you’re selling a very specialized skillset on typically an hourly basis and there’s very little crossover between the skills of the people doing the forensics work and the skills of those doing the eDiscovery work. So, we ended up spinning off the eDiscovery business unit and selling that to a private equity group in 2017. After that, a lot of what I was doing went away since I was managing all of the due diligence that led up to that acquisition as well as the eDiscovery business unit. In the summer of 2018 – taking lessons learned with having had four exits in the eDiscovery and legal technology space, having bought a few companies along the way and my legal background (as with my business partner who also had had some exits and bought some companies and has the legal background) – we started a brokerage partners with the idea being that we could leverage all the relationships, industry knowledge, industry experience, legal backgrounds and help companies that were looking to sell, find a better exit and companies looking to buy companies, help them find better targets. We’ve since added another person to the team who’s also an attorney and has over 20 years of industry experience as well. So really again, it’s a long arc that got me from the traditional practice of law to cobbling everything together to help industry companies find better exits or find companies to purchase.

Ari: What exactly is legal technology and legal services M&A advisory?

Rick: It’s a lot of words that really means something very simple. M&A is mergers and acquisitions. Advisory is really just giving advice on buying and selling. So, we’re kind of fancy business brokers for legal technology and legal services companies where we have confined ourselves to the vertical. Given that our strength and our skillset and really our value proposition is that we have lived in this space for so long, that we pretty much know either directly or indirectly most of the buyers and most of the sellers. We are very good at being able to match sellers with buyers and buyers with sellers. In short, it’s really just mergers and acquisitions for companies that fall into the legal technology and legal services arena and includes eDiscovery, computer forensics and other Legal services companies. We help sellers who want to sell get a better exit and we help companies looking to buy, find the right target.

Ari: Take us through that process. Who contacts you? Who do you then contact? How does this generally work?

Rick: It depends on whether we have a sell-side mandate or a buy-side mandate. I’ll answer the question from a sell-side mandate, since we do more of that and it is a bit more traditional. It’s usually one of two things: either people that we’ve known for a while or it’s people that know of us that decide that now’s the time to sell their company. Or, it can be that a company is thinking of selling their company in let’s say the next year or two and wants to plan ahead. In this case, if they know they want to sell in a couple of years from now, we can do what we call Exit Planning Consulting whereby we help those companies evaluate business decisions and financial decisions today through the lens of M&A with an eye toward an exit down the road. For example if one of these company’s is say looking to spend money on a new server farm or whether to hire a new employees or sales person, we can have strategic conversations with them about what impact those decisions will have – for better or for worse – if they want to hit the market in say 9 or 12 months.

It’s kind of like when a real estate agent stages a house. We can help companies be in the best position to get the best exit.

Now, the way the process works typically is we’ll enter into an engagement with them whereby we’ve become their exclusive representative and help based on what they’re looking for. In some circumstances, some of the executives are looking to get out of the business completely where in other circumstances, some or all of the executives are looking to stay on, and depending on their particular circumstances and what they’re looking for, we generally have a pretty good idea of who in the industry is acquiring and who would be a good fit for the right group. That’s where our relationships really come in handy as we can match the right buyer with the right seller. In the process, I typically would put together a list of potential buyers that I think would be a good fit and go over that list with my client. We would then reach out to potential buyers and start presenting to them the opportunity with data – whether it be financials and/or business documents – and trying to get interest from particular groups. And then that generally whittles itself down to groups that are somewhat interested to then more interested. It’s a process and can be kind of like dating: you have a first date where you talk about things generally, followed maybe with a second day where you talk about things more and then things progress. The first big event is what’s called a letter of intent where it would be a letter from a specific company that says we want to buy you and we’d like to buy you at this purchase price. A seller would then agree in principle to those terms and generally means that that buyer and that seller would then be working exclusively towards getting a deal done. LOI’s typically have what’s called a “no shop clause” whereby a seller wouldn’t be allowed date on the side if you will, i.e. not be allowed to have discussions with other companies about a deal while they’re going through a due diligence process. Depending on the company and the buyer deal can take four or five months on the short end to anywhere from nine to twelve months – and sometimes even longer – on the longer end. But, right now in the industry, I would say deals are getting done in five to nine month range.

Ari: What’s the difference between private equity and venture capital in the context of M&A?

Rick: M&A really would be more wedded with the term Private Equity because private equity groups are looking to buy usually a majority to a complete ownership interest in a company. That lends itself towards mergers and acquisitions because it’s in essence an acquisition by acquiring a majority ownership in the company. Venture capital is more of an investment – i.e. companies that are looking to fund early stage companies for broad growth. Typically they don’t take a majority interest. Instead, they come in maybe in the five, ten, fifteen, or twenty percent range and there’s often different stages in which a venture capitalist would come in and invest. Series A, B, C, and so on. Valuations of target companies change over time depending on the growth of the company. In a nutshell, venture capitalist look to invest in early stage companies that are looking to grow and have really large returns on the initial investment.

I like to tell people that the venture capitalists buy dreams where private equity groups by realities. Private Equity groups are not investors per se, where they’re buying for growth. They are, but they’re really buying companies to then hopefully see some growth, but their growth expectations are significantly different than a venture capitalists’. Venture Capitalists would be looking for usually a 10X return on their investment, recognizing that a few of the investments they make are going to hit, but many are going to lose. It’s kind of like in baseball where you can strike out seven out of ten times, but get on base three out of ten and you then would go to the hall of fame. That’s kind of similar to venture capitalists. Private Equity groups wouldn’t be very successful if they had a .300 batting average. They’re looking to buy companies that are strong and solid, but maybe has an executive team that’s looking to either leave or cash out in part, and then maybe they bring in some investment funds along with maybe a different management team, but look to continue a trend to then sell it within a couple of years at some multiple that is usually significantly less than a 10X. If they can get that type of return, they’re happy obviously, but their expectations are significantly different.

So, private equity, again, is really more buying companies or a majority interest in companies that have growth and a stable client base and growing it. They’re also looking for companies that typically have a minimum amount of net profits anywhere from $1M on the very low end and some won’t even come in until there’s at least $3M of profitability and above. Whereas venture capitalists oftentimes we’ll invest in companies that are actually even losing money.

The parameters are very different. The two terms are oftentimes conflated, but they’re really quite different entities looking for different things.

Ari: What’s the current state of M&A for legal technology and legal services companies today?

Rick: I think it’s strong. I think it’s been very, very strong for the last few years. There’s been a lot of industry consolidation, certainly the eDiscovery space. We’ve seen a lot of small and medium size eDiscovery companies take on private equity investment with the idea that it’s become harder to grow organically in the vertical than it used to be. Companies instead of trying to grow by hiring a bunch of sales people and building an office in a particular area are finding it easier to buy the revenue from an existing litigation services or eDiscovery or computer forensics company. M&A has thus been very hot for the last several years. I think it’s going to remain strong through 2019 and probably into 2020. I do think that the window’s probably going to start to tighten up a little bit. One of the things that I think we’re going to see in the next year or two is that some of the larger buyers, the groups that have been private equity backed, that had been buying up companies, are going to become sellers at some point in the near future. That will have a double impact as one, there will be less buyers and more sellers, and two that could have upside down pressure on the existing groups that are selling. Also, over time, there are less and less groups out there. There are definitely more companies coming online that are doing litigation services, but I think you’re seeing more companies selling then you’re seeing startups. There’s less sellers out there today and less than there were probably two, three years ago. I think there will be a slowing down in activity over the next couple of years, but I do expect that we’re going to still see M&A being relatively strong for the next couple of years.

Ari: This is Ari Kaplan speaking with Rick Weber, the co-founder and managing partner of Arbor Ridge partners, a legal technology and legal services M&A advisory firm. Rick, thanks so much.

Arbor Ridge Partners advises iCONECT on its deal with NewField Capital Partners

Chicago, Illinois – August 8, 2019: Arbor Ridge Partners is pleased to announce that our client, iCONECT Worldwide Inc. and iCONECT Development, LLC (“iCONECT”) has entered into a deal with NewField Capital Partners, a strategic partner who will fund iCONECT’s continual growth and innovation. iCONECT is the maker of the award winning XERA document review platform and has been an industry leader in legal technology over the past 20 years.

“Arbor Ridge’s introduction of NewField brings both capital and strategic vision as we continue to grow and add some exciting new developments,” said CEO Ian Campbell. “Arbor Ridge Partners has so much first-hand experience with Legal Technology companies, that they were able to quickly understand our goals and objectives and then generate a perfect result.”

“We are extremely excited to be partnering with iCONECT to create new growth opportunities within the quickly expanding legal technology sector,” states Rob Bush, a Partner with NewField Capital Partners. “Their advanced yet intuitive software coupled with a strong management team will provide those in the e-discovery space a platform to better serve their clients.”

Arbor Ridge Partners served as the exclusive advisor to iCONECT.


About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker and M&A advisory service provider that focuses on mergers and acquisitions for legal software, litigation support, computer forensics, and eDiscovery companies. With a unique blend of industry experience, legal backgrounds, and relationships, Arbor Ridge Partners helps maximize value in the purchase and sale of legal technology businesses.For additional information, please see www.arborridgepartners.com, email [email protected] or call 800-226-2760.

About iCONECT

CONECT software has been selected for use in some of the world’s largest high-profile projects such as the ENRON investigation, BP-Oilspill, NASA-Columbia Return to Flight, FDIC-900+ Banking Investigations and most recently the creation of a public access archive for the 30,000 JFK document and audio files released by the CIA. iCONECT was recently named one of the ‘30 Fastest Growing Tech Companies 2019’ by Silicon Review. www.ICONECT.com.

About NewField Capital Partners

Newfield Capital Partners, LLC is a private alternative investment firm that provides debt, equity and operational expertise to middle market companies around the world. Their experienced team has decades of expertise in multiple industries to help Owners, Board of Directors, and Senior Management Teams solve their complex problems and assist them in building great companies. Website: www.newfieldcap.com.

Industry Round-up | August 7, 2019

Recent Legal Technology & Legal Services M&A Activity

June 5, 2019. Reveal Data Corporation Acquires Mindseye Solutions
Reveal Data Corporation, a Chicago-based provider of eDiscovery software solutions and services, has acquired Mindseye Solutions, a complimentary software solution. The combination of Mindseye and Reveal enhances Reveals eDiscovery and Litigation Document Review software solution, including eDiscovery data processing, early case assessment, data storage, litigation document review and artificial intelligence. Additionally, Reveal announced that it received a significant investment from Gallant Capital Partners, a Los Angeles based investment firm…
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June 11, 2019. Exterro Acquires Jordan Lawrence
Exterro Inc., a provider of eDiscovery and information governance software designed for corporate legal and IT teams has acquired Jordan Lawrence, a provider of data privacy and information management software and the Association of Corporate Counsel’s Alliance Partner for Data Privacy and Cybersecurity Compliance. Jordan Lawrence provides privacy and information governance solutions that enable customers to manage their information compliantly, defensibly and cost effectively. Exterro is poised to provide clients with a fully integrated software platform for eDiscovery, data privacy, security and compliance…
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July 2, 2019. Xact Data Discovery Acquires QDiscovery
Xact Data Discovery, an international provider of legal technology services, eDiscovery, data management and managed review services for law firms and corporations, announces the acquisition of QDiscovery, a mid-tier eDiscovery and digital forensic services provider. QDiscovery provides eDiscovery, forensics, managed review and consulting services to law firms and corporations. With offices in Chicago, Indianapolis, Boston, DC, Houston, Minneapolis and Phoenix, the newly integrated company and services will operate under the XDD brand…
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July 18, 2019. Thomson Reuters Acquires HighQ
Thomson Reuters acquires HighQ, a collaboration platform for the legal and regulatory market. Based in London with offices in the United States, Germany, the Netherlands, Australia and India, HighQ offers a secure cloud-based platform for business collaboration, workflow automation and client engagement. HighQ currently serves more than 400 customers, including more than half of the Global 100 largest law firms…
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July 29, 2019. KLDiscovery Acquires Strategic Legal Solutions and Compiled
KLDiscovery, a provider of electronic discovery, legal services, information governance and data recovery services, has acquired New York-based Strategic Legal Solutions (SLS) and Richmond, Virginia-based Compiled…
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August 1, 2019. Legility Acquires eDiscovery Company iControlESI
NASHVILLE – Legility has acquired Dallas-based iControlESI, a leading eDiscovery provider and developer of eDiscovery technology solutions. The acquisition gives Legility – which has had a corporate office and a standalone Managed Services facility in Dallas for eight years – a larger footprint in Texas and access to innovative technology solutions…
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About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for Legal Technology and Legal Services companies; including, litigation support, computer forensics, eDiscovery, legal services, and software companies. With over 40+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, we can help maximize value in the purchase and sale of Legal Technology and Legal Services Businesses. For additional information, please visit www.arborridgepartners.com or call 800-226-2760.

Arbor Ridge Partners News Alert: Arbor Ridge Partners will be at ILTACON from August 19 – 22, 2019. To schedule a meeting with us in Orlando during the conference, please email us at: [email protected].

Industry Round-up | May 14, 2019

Recent Legal Technology & Legal Services M&A Activity

February 12, 2019. Xact Data Discovery Acquires QUiVX

Xact Data Discovery, a leading international provider of eDiscovery, legal technology, litigation support, data management and managed review services for law firms and corporations, announces the acquisition of QUiVX’s forensics, review and eDiscovery services. QUiVX, an agile eDiscovery company based in northern California will continue to operate its paper discovery business under the QUiVX brand…
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March 21, 2019. Veritext Legal Solutions Acquires U.S. Court Reporting Business from Epiq

Veritext Legal Solutions, a deposition and litigation technology support solutions company, and Epiq, a global company in the legal technology and litigation support services industry, announce Epiq has divested its U.S. court reporting business to Veritext…
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April 3, 2019. Epiq Acquires H&A eDiscovery

Epiq, a global leader in the legal technology and legal services industry, has acquired H&A eDiscovery. H&A is a leading Canadian eDiscovery and litigation support firm that provides expertise and consulting across the EDRM from identification, collection, processing, hosting, filtering and project management…
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April 3, 2019. EY Acquires Pangea3 from Thomson Reuters

EY, the entity that encompasses Ernst & Young companies worldwide, has entered into an agreement for the acquisition of the Thomson Reuters Pangea3 Legal Managed Services business by various firms in the EY network. Following the recent acquisition of Riverview Law, EY continues to expand their legal services business…
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May 1, 2019. Lightyear Capital Acquires controlling interest in Lighthouse

Lightyear Capital LLC, a New York-based private equity firm focused on financial services, announced today that investment funds affiliated with Lightyear have acquired a controlling stake in Lighthouse Technologies. Founded in 1995, Lighthouse provides eDiscovery and end-to-end software and services to help compliance and legal teams manage enterprise data and the eDiscovery process…
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May 1, 2019. Morae Global Acquires Phoenix Business Solutions

Morae Global Corporation, a provider of end-to-end legal services and compliance solutions to law departments, compliance teams and law firms acquired Phoenix Business Solutions. Phoenix Business Solutions is an information and litigation data management specialist, providing strategic consultancy, software solutions and system integration for companies across the legal and professional services markets…
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About Arbor Ridge Partners, LLC.

Arbor Ridge Partners is a business broker that focuses on mergers and acquisitions for legal software, litigation support, computer forensics, and eDiscovery companies. With over 40+ years of combined industry experience, legal backgrounds, first-hand industry M&A experience, and deep relationships, we can help maximize value in the purchase and sale of Legal Technology Businesses. For additional information, please visit www.arborridgepartners.com or call 800-226-2760.