FTI Consulting, Inc. Completes Acquisition of Attenex Corporation
NEW YORK, July 2 /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 completed its acquisition of Attenex Corporation, a leading eDiscovery software provider, for $88 million in cash, as previously announced.
Attenex is a globally recognized leader in the eDiscovery marketplace with innovative software solutions that automate data processing and provide powerful visualization tools for quickly analyzing massive amounts of electronically stored information (ESI). The Attenex software is available either on-premise or as a hosted service through Attenex Advantage(TM) partners, the industry's largest network of global service providers. As a part of FTI Consulting, Attenex has been integrated into the FTI Technology segment.
We are very pleased to have completed this strategically important transaction, said Jack Dunn, FTI's president and chief executive officer. The acquisition of Attenex joins two of the most well respected brands in the industry, and positions FTI and the Technology segment as the market leader in eDiscovery with a full suite of products and solutions to meet our clients' evolving needs and the global reach to provide these services where they are needed. We are better positioned than ever to take advantage of this rapidly growing business.
This transaction positions FTI's Technology segment as the provider of the most robust set of ESI capabilities in the marketplace, said David Remnitz, leader of the FTI Technology segment. The combined FTI/Attenex platform will benefit from a broader intellectual property portfolio, enhanced capability to leverage the rapidly developing opportunity for enterprise in-house solutions, and a strong indirect sales channel that includes both FTI and Attenex Advantage(TM) partners. The outlook for the ESI marketplace continues to be strong, and we look forward to working together as one firm to take advantage of the opportunities ahead of us.
Attenex Corp. is changing the way corporations manage e-discovery. With an open software platform and industry expertise, Attenex enables corporations and their law firms to establish standardized e-discovery processes that reduce the risk, complexity and cost of litigation, regulatory requests and internal investigations. Whether deployed on-premise or as a hosted service through the industry's largest network of global service providers, Attenex(R) Patterns(R) software provides corporations with control of e-discovery and the flexibility to choose the best solution for their needs. Attenex is headquartered in Seattle, Washington, and more information is available at www.Attenex.com.
Attenex Advantage Partners represent the industry's largest network of experienced legal industry service providers and consulting organizations that offer Attenex software to dramatically reduce the total cost of discovery for their clients. For more information, visit http://www.Attenex.com/partners/.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,000 employees located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.
FTI, FTI Consulting, RINGTAIL and QUICKCULL are registered trademarks of FTI Consulting, Inc. A2R, TIFF-ON-THE-FLY and REVIEWPWR are also trademarks of FTI Consulting, Inc.Attenex(R), Patterns(R), and the Attenex logo are registered trademarks of Attenex Corporation.
Attenex Advantage(TM) is also a trademark of Attenex Corporation.
All other trademarks are the property of their respective owners.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve uncertainties and risks including statements related to our future financial results. These forward looking statements include statements regarding the expected timing of the closing of the acquisition, expected benefits resulting from the acquisition, future client demand for products and services, the impact of the acquisition on FTI's financial results, and FTI's marketing, strategy and integration plans. There can be no assurance that actual results and performance will not differ from the company's expectations. Factors that might cause such differences include, the failure to (i) receive required regulatory approvals, (ii) accurately predict the financial contribution of the acquisition, (iii) accurately predict expected cost savings, efficiencies and other synergies, (iv) accurately predict acquisition costs, (v) retain clients, (vi) accurately predict market acceptance and demand, (vii) successfully market services and products, (viii) successfully integrate the acquisition, and (ix) retain key employees. Other factors that could impact FTI's operations and results are described under the heading Item 1A. Risk Factors in FTI's most recent annual report on Form 10-K, quarterly report on Form 10-Q and other filings with the Securities and Exchange Commission. FTI is under no duty to update any of the forward-looking statements to conform such statements to actual results or events and does not intend to do so.SOURCE FTI Consulting, Inc.
CONTACT: Jack Dunn, President & CEO of FTI Consulting, +1-410-951-4800
Investors, Gordon McCoun, or Media, Jessy Adams, both of FD, +1-212-850-5600
for FTI Consulting
Web site: http://www.fticonsulting.com