Mission, KS-based Xact Data Discovery announced that it has been acquired by Clearview Capital, LLC, a private equity firm based in Old Greenwich, Connecticut. The transaction includes a capital investment made by Clearview, with XDD founder and CEO Bob Polus retaining significant ownership in the company. Polus will also continue to lead the XDD management team.
A pioneer in the litigation support and electronic discovery services market, XDD celebrated its 20th anniversary and achieved significant growth in 2014. In particular, the company saw tremendous success with its on and offshore managed review services. XDD expanded its operations by opening new locations in Atlanta, Georgia, and Century City, California, last year. The company opened two new domestic review centers in Detroit, Michigan, and Kansas City, Missouri, and also expanded and upgraded its facilities in New York, Chicago, Detroit, St. Louis and Dallas.
With the influx of capital and partnership with Clearview, XDD continues to position itself as a leader and innovator in the e-discovery market. The company will maintain its operations under the XDD brand, delivering its full suite of streamlined services including forensics, e-discovery processing, hosting, no-cost project management, on and offshore managed review and paper discovery services. Because clients need to know where their data is throughout the entire discovery life cycle, XDD emphasizes the importance of communication and provides exceptional project management and customer service, for which it is known and trusted by clients nationwide.
“Clearview and XDD have common goals, interests and a shared vision, making this an ideal partnership,” says Polus. “We look forward to advancing our common interests, experience and capital as we pursue additional acquisitions to add new locations and service capabilities.”
“We have been very impressed with Bob and the entire team at XDD and believe the company represents a compelling platform to take advantage of the double-digit growth taking place in the e-discovery and legal process outsourcing industry,” says Bill Case, partner of Clearview Capital.
Clearview made its investment through Clearview Capital Fund III, LP, a $325 million fund and announced the acquisition on January 14, 2015. Terms of the deal were not disclosed.