Epiq Systems Acquires De Novo Legal LLC for $68M

-- Epiq Systems, Inc.

, a leading global provider of technology solutions for the legal profession, today announced the acquisition of De Novo Legal LLC, a significant U.S. e-discovery provider with particular prominence in managed review services. Epiq paid closing consideration of approximately $68 million, which was funded from the company's credit facility. The transaction also includes a deferred cash component and an opportunity for contingent consideration based on future revenue growth. With this transaction, Epiq further strengthens its leading global e-discovery franchise, providing corporate legal departments and law firms with full-service capabilities to manage electronic information for discovery, investigations, regulatory issues, compliance, and related legal matters. De Novo augments Epiq's capacity for managed review services and broadens Epiq's e-discovery customer base. De Novo has document review centers in key strategic locations in the United States and is among the largest providers of managed review and staffing services. De Novo also offers clients e-discovery processing and hosted review platforms. For 2011 on a pro forma basis, De Novo represents an approximate 30% to 40% revenue increase to Epiq's projected standalone e-discovery segment.