ZANTAZ® Acquires Steelpoint Technologies®, Market Leader in Electronic Discovery and Litigation Support Solutions
PLEASANTON, CA AND BOSTON, MA (August 17, 2004) - ZANTAZ, Inc., the leader in digital archiving, compliance and discovery management solutions, today announced it has acquired Steelpoint Technologies, a Boston-based provider of high-end electronic discovery and litigation support solutions. The combined company will be the first and only single-source provider of on-demand and onsite digital archiving, compliance and discovery management solutions.
Corporations and law firms will benefit from a proven, single-sourced offering that spans the entire records and discovery management value chain, from email and file archiving for compliance and storage management, to data restoration, proactive and reactive electronic discovery, and production for litigation and regulatory proceedings.
Steelpoint's highly scalable and feature-rich IntrospectTM solution, which is offered as both a hosted service and licensed software application, is used by more than 130 customers worldwide, including blue-chip Fortune 500 corporations, leading law firms and government institutions. Many of today's highest-profile legal cases utilize Steelpoint's industry-leading solutions and world-class services.
"Our customers are rapidly recognizing that digital archiving, compliance, discovery and litigation support are strategic, interdependent business processes," said Steve King, President and CEO of ZANTAZ. "Together with Steelpoint, we deliver an unprecedented opportunity for customers to streamline the management and control of these key business processes, eliminating multi-vendor solutions and redundant resources, and significantly reducing cost and risk."
The industry is rapidly maturing from traditional reactive discovery, to proactive, managed discovery. Corporations are under increasing pressure to proactively manage the retention and disposition of all forms of corporate records for compliance and discovery. ZANTAZ will combine its industry-leading proactive solutions for compliance archiving, email management and data restoration, with Steelpoint's scalable discovery review and production solutions, trusted case management and legal process expertise and world-class consulting services.
The result will be a proven, proactive solution for managing electronic and scanned records through the entire discovery process-from document capture and retention, to access, review and production. ZANTAZ will deliver its solutions on-demand as a hosted service as well as onsite as a licensed software application, giving customers the flexibility to choose the optimal solution for their environment.
"ZANTAZ and Steelpoint are a natural fit," said Michael Sullivan, Co-Founder and President of Steelpoint Technologies. "ZANTAZ shares our vision of providing scalable, secure technology solutions that bridge the gap between corporate legal and IT departments and law firms. The combination of both companies will provide the scale and resources for us to deliver unprecedented value to customers and attain our market potential."
Prior to the acquisition, ZANTAZ was ranked as one of the top 20 electronic data discovery service providers1, while Steelpoint had captured a significant leadership position in the high-end litigation support market. ZANTAZ also holds an industry-leading 24 percent market share2 in the email archiving market. With the addition of Steelpoint, ZANTAZ establishes itself as the clear leader in these markets, which combined are expected to reach $2 billion in 20053.
"Electronic discovery activities consume a significant amount of time and resources for enterprises globally," said Peter Gerr, Analyst at Enterprise Strategy Group. "By combining compliance archiving, electronic discovery and litigation support into a continuum of solutions, corporations and outside counsel can quickly and easily control the entire e-records and discovery management lifecycle and ultimately produce paper, email, instant messaging and electronic records in a timely and less costly fashion."
Funding for the acquisition was led by General Atlantic Partners. Financial terms of the deal are not being disclosed.
About ZANTAZ
ZANTAZ is the global leader in Information Retention and Discovery Management solutions. ZANTAZ' solutions enable organizations to capture, preserve and access unstructured digital information-including email, IM, files, scanned documents, and other electronic records-and review and produce relevant documents in a manner that reduces operational risks and costs while complying with legal, regulatory and corporate policy requirements. ZANTAZ solutions are available as onsite software applications or on-demand hosted services, and include a broad set of professional services and integration support. ZANTAZ has over 600 customers, including many of the largest corporations, law firms and government agencies in the world. For more information, visit www.ZANTAZ.com.
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