FTI Advances Position in Fast-Growing $6.6 Billion E-Discovery Market
27 Gennaio 2009 - 7:00PM
PR Newswire (US)
Seamless Integration of Attenex Corporation Creates Game-Changing
Combined Technology Platform NEW YORK, Jan. 27
/PRNewswire-FirstCall/ -- FTI Consulting, Inc. (NYSE: FCN), the
global business advisory firm dedicated to helping organizations
protect and enhance their enterprise value, today announced that it
has successfully completed the full integration of Attenex
Corporation into its technology segment -- less than seven months
after completing the acquisition in July 2008. The combined
business segment, now called FTI Technology, includes a fully
integrated research and development organization, combined sales
and support functions, and a worldwide team of more than 600
employees. Achieving this milestone so quickly underscores the
inherent cultural and technology compatibility of the two
organizations, as well as the shared vision of delivering the
industry standard for e-discovery software, services and
consulting, an industry which IDC Research(1) estimates will reach
$6.6 billion in revenues in 2009. "As we have planned from day one,
the merging of the visual analysis and rapid review capabilities of
Attenex technology with the enterprise-class case management and
production features of Ringtail software has the potential to
completely change the game in the e-discovery marketplace," said
Jack Dunn, president and chief executive officer, FTI Consulting.
"The integration of these two market leaders creates an unmatched
global force and technology platform in a market expected to grow
as much as 35% annually through 2012. This directly benefits our
clients through continued product innovation, seamless service and
support, and greater speed and flexibility through all phases of
the e-discovery process." Recent surveys show that the world's
largest corporations are managing, on average, more than 500 legal
and regulatory matters at any one time. The scope of these matters
can range from smaller investigations involving a few gigabytes of
data to large-scale "bet-the-company" types of cases in which
hundreds of terabytes of data are collected for review as potential
evidence. These companies often need the easiest, most
cost-effective and defensible processes and technology in which to
secure the best possible outcomes. The combination of FTI and
Attenex software, services and consulting will offer these
companies an unprecedented level of speed and flexibility, backed
by a worldwide organization of unmatched knowledge and consulting
expertise. "For years, Attenex Patterns, Ringtail and FTI's
technology consulting and services have been the go-to offerings
for global corporations and their trusted advisors, including many
of the world's largest and most respected law firms," said David
Remnitz, senior managing director and segment leader of FTI
Technology. "Now, with a fully integrated technology platform and
client experience, FTI Technology provides corporations and their
law firms with a new a one-stop resource for flexible and tailored
offerings to meet their most critical business information
challenges." The FTI Technology segment offers on-premise and
on-demand e-discovery software as well as complementary services
and consulting to give customers unprecedented flexibility to
address e-discovery challenges at any stage of the process. The
legacy knowledge and unmatched R&D investment of FTI Technology
uniquely position the company to expand its share of the
e-discovery software market, which Gartner Research estimates will
grow between 25% and 35% per year until 2012. Gartner Research
recently named FTI Technology as a "strong positive" in the 2008
MarketScope for E-Discovery Vendors(2) report, one of only four
vendors named in the highest category and the only one to offer
software, consulting and services that span the entire e-discovery
process. Safe Harbor Statement This press release may include
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934 that involve uncertainties and
risks. Forward-looking statements include statements concerning our
plans, objectives, goals, strategies, future events, future
revenues, future results and performance, expectations, plans or
intentions relating to acquisitions and other matters, business
trends and other information that is not historical, including
statements regarding estimates of our future financial results.
When used in this press release, words such as "estimates,"
"expects," "anticipates," "projects," "plans," "intends,"
"believes," "forecasts" and variations of such words or similar
expressions are intended to identify forward-looking statements.
All forward-looking statements, including, without limitation,
estimates of our future financial results, are based upon our
expectations at the time we make them and various assumptions. Our
expectations, beliefs and projections are expressed in good faith,
and we believe there is a reasonable basis for them. However, there
can be no assurance that management's expectations, beliefs and
projections will result or be achieved or that actual results will
not differ from expectations. The Company has experienced
fluctuating revenue, operating income and cash flow in some prior
periods and expects this will occur from time to time in the
future. Other factors that could cause such differences include the
pace and timing of the consummation and integration of past and
future acquisitions, the Company's ability to realize cost savings
and efficiencies, competitive and general economic conditions,
retention of staff and clients and other risks described under the
heading "Item 1A. Risk Factors" in the Company's most recent Form
10-K and in the Company's other filings with the Securities and
Exchange Commission. We are under no duty to update any of the
forward-looking statements to conform such statements to actual
results or events and do not intend to do so. FTI(R), Ringtail(R)
and Ringtail Legal(R) are registered trademarks of FTI Consulting,
Inc. Attenex(R) and Patterns(R) are registered trademarks of
Attenex Corporation. Any other trademarks are the property of their
respective owners. (1) "Worldwide Legal Discovery and Litigation
Support Infrastructure 2007-2011 Forecast: Legal Matter and
Compliance Records Repositories Are the Early Use Cases of the
Active Archiving Architecture" by Vivian Tero, IDC Research, July
2007. (2) The MarketScope is copyrighted December 2008 by Gartner,
Inc. and is reused with permission. The MarketScope is an
evaluation of a marketplace at and for a specific time period. It
depicts Gartner's analysis of how certain vendors measure against
criteria for that marketplace, as defined by Gartner. Gartner does
not endorse any vendor, product or service depicted in the
MarketScope, and does not advise technology users to select only
those vendors with the highest rating. Gartner disclaims all
warranties, express or implied, with respect to this research,
including any warranties of merchantability or fitness for a
particular purpose. DATASOURCE: FTI Consulting, Inc. CONTACT: Jack
Dunn, President and CEO, FTI CONSULTING, +1-561-515-1900; or
Investors, Gordon McCoun, or Media, Andy Maas, both of FD,
+1-212-850-5600 Web Site: http://www.fticonsulting.com/
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