NEW YORK, Nov. 3, 2014 (GLOBE NEWSWIRE) -- AlixPartners, the global business-advisory firm, today announced that it is acquiring New York City-based Evidence Exchange. The acquisition will significantly expand AlixPartners' global e-discovery and litigation-support practice, which is already known for its investigative-support work in complex and high-profile engagements such as the Bernard Madoff case. Evidence Exchange, one of the premier litigation- and investigation-support firms focused on the New York City market, was founded by industry pioneers Michael Prounis and Myron Eagle in 1999.
"The addition of the Evidence Exchange team enables AlixPartners to better serve corporate and law-firm clients both within the critical New York City market and throughout the $4.5 billion global e-discovery-services industry," said AlixPartners CEO Fred Crawford. "The merger brings together experienced practitioners and two innovative, entrepreneurial, results-oriented corporate cultures dedicated to using innovative tools and technologies to deliver cost-effective and leading-edge litigation and investigation services to both corporations and law firms."
Said Meade Monger, managing director and global head of AlixPartners' Information Management Services business, "AlixPartners and Evidence Exchange have independently built two of the most experienced and sophisticated teams in the entire industry. In an era when corporations as well as law firms are seeking high quality and efficient e-discovery solutions, combining our two teams creates a very powerful market offering."
In addition to 29 senior professionals, the Evidence Exchange acquisition also adds two state-of-the-art data centers, located in Leesburg, Virginia and Dallas, Texas, to AlixPartners' global data-center footprint, which includes centers in North America, Europe and Asia. In January, Evidence Exchange and its data centers were recognized, for the third consecutive year, as a kCura "Relativity Best in Service" partner for its expertise and experience in hosting projects in kCura's Relativity online processing and document-review services.
"Like AlixPartners, our firm has always been centered on doing whatever it takes to satisfy our clients, and always in a cost-conscious, common-sense way," said Prounis. "This merger gives our clients access to AlixPartners' global footprint and broad suite of information-governance services areas, including areas important to corporations and litigators, such as data analytics, cyber security, and computer forensics and information-life-cycle management."
"With market analysts projecting 17% annual growth in the services side of the e-discovery market through 2017, this merger is as well-timed as it is strategic," said Eagle. "This combination is a tremendous opportunity for our team at Evidence Exchange but, more importantly, it is great news for companies and litigators looking for top-drawer litigation-support services."
Prounis and Eagle will join AlixPartners as managing directors in the firm's Information Management Services business.
AlixPartners is a leading global business advisory firm of results-oriented professionals who specialize in creating value and restoring performance at every stage of the business lifecycle. We thrive on our ability to make a difference in high-impact situations and deliver sustainable, bottom-line results. The firm's expertise covers a wide range of businesses and industries whether they are healthy, challenged or distressed. Since 1981, we have taken a unique, small-team, action-oriented approach to helping corporate boards and management, law firms, investment banks and investors respond to critical business issues. For more information, visit www.alixpartners.com.
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