Consilio announced that it is merging with fellow e-discovery provider Xact Data Discovery, in another sign that private equity investments and evolving client demands continue to push midsize e-discovery companies into the arms of larger providers.
The transaction is set to close in the coming weeks, and the combined Consilio said it intends to use its additional scale to potentially acquire or develop offerings to service the entire EDRM and legal lifecycle.
Along with acquiring Xact, it was also announced that Consilio will be sold to investment funds managed by private equity firm Stone Point Capital.
Despite all the internal changes, the company will continue to operate as Consilio with offices in 11 countries; boutique, midsize and large clients; and 4,000 employees, according to a press release. Of those employees in the newly combined company is Xact founder and CEO Bob Polus, who will now serve as the combined Consilio’s corporate development officer. Polus explained the impetus behind the merger by noting that scaling up is the only way to thrive in the current e-discovery market.
To learn more about Xact Data Discovery, please visit their website.