FTI Consulting Announces the Sale of Its Ringtail® E-discovery Software

WASHINGTON, Sept. 10, 2018 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the sale of its Ringtail® e-discovery software to Nuix, a security, risk and compliance software company. The purchase price for the sale of the Ringtail software, related assets and transition support services is $55.0 million. As the largest Ringtail customer, FTI Consulting has entered into a three-year preferred partner licensing agreement with Nuix for the Nuix Ringtail Review platform. 

“Ringtail is a superb software and it, together with its highly experienced team, has achieved a leading reputation in the e-discovery industry,” said Sophie Ross, Global Chief Executive Officer of the Technology segment at FTI Consulting. “We believe Nuix’s development expertise and commitment to Ringtail will allow Ringtail to flourish and grow, and we are pleased that our consultants will continue to offer and use Ringtail along with other tools to serve our global clientele.”

Commenting on the transaction, Rod Vawdrey, Group Chief Executive Officer of Nuix, added, “The acquisition of Ringtail further builds on our position as a leading e-discovery processing, review and analytics platform. Corporations, governments and legal service providers who depend on Total Data Intelligence from Nuix will be further empowered to simplify, de-risk and speed up their enterprise e-discovery needs without compromise. Technology is transforming the e-discovery industry and customer requirements are increasing in complexity and cost, and our customers and partners have been asking for a better end-to-end solution. Integrating the power of Ringtail into the Nuix platform equips our extensive partner and distribution network to raise the bar for excellence in e-discovery.”

About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2017.

Safe Harbor Statement
This press release includes forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expenses, expectations, plans or intentions relating to acquisitions, dispositions, financing transactions, share repurchases 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 estimates will be achieved, and the Company’s actual results may differ materially from our expectations, beliefs and estimates. The Company has experienced fluctuating revenues, operating income and cash flows in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, fluctuations in the price per share of our common stock, adverse financial, real estate or other market and general economic conditions, and other future events, which could impact each of our segments differently and could be outside of our control, the pace and timing of the consummation and integration of future acquisitions, the Company’s ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients, new laws and regulations, or changes thereto, including the 2017 Tax Act, and other risks described under the heading “Item 1A, Risk Factors” in the Company’s annual report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission (the “SEC”), including the risks set forth under “Risks Related to Our Reportable Segments” and “Risks Related to Our Operations,” and in the Company’s other filings with the SEC. 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 Consulting, Inc.
555 12th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com

Media Contact:
Matthew Bashalany
+1.617.897.1545
matthew.bashalany@fticonsulting.com

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