FTI Buys Attenex

Summary:

  • FTI is a professional services business, with about 2,000 professionals and 3,000 employees. 2007 revenues were about $1 billion.
  • Ferris Research estimates about 20% of its business is litigation consulting.
  • Ferris Research estimates about 20% of its business is Ringtail e-discovery software, delivered as a service or packaged software. This provides for data collection, culling, review, and coding; FTI is a leader in its field.
  • Attenex makes user-friendly early case assessment software, and is also a leader in its field.
  • Attenex revenues in 2007 were about $25 million.
  • Purchase price is $88 million.

Major benefits to FTI:

  • The ability to offer a more complete range of e-discovery software.
  • Access to Attenex's channel of legal service providers and consultants.
  • Cross-selling of Attenex, Ringtail.

Observation from your correspondent, who did a degree in the Bleeding Obvious: Illustrates consolidation and M&A in the emerging and lively e-discovery business.

... David Ferris

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