29 Juli 2019

Pivotal Acquisition Corp. gibt Übernahmen durch KLDiscovery bekannt

  • KLDiscovery schließt Übernahme von zwei Unternehmen ab - Strategic Legal Solutions und Compiled
  • Aktive Übernahmen sollen Umsatz in 2020 um 12 Millionen Dollar erhöhen
  • Erweiterung des weltweiten Kundenstamms von KLD sowie um die Angebote für Information Governance und eDiscovery Software.

New York, NY und McLean, VA, 29. Juli 2019 - Pivotal Acquisition Corp (NYSE: PVT) ("Pivotal"), eine öffentliche Investmentgesellschaft, und KLDiscovery ("KLD"), ein weltweit führender Anbieter von Services für Electronic Discovery, Information Governance und Datenrettung, gaben heute bekannt, dass KLD die in New York ansässige Strategic Legal Solutions (SLS) und die aus Richmond, Virginia stammende Compiled, übernommen hat. Die finanziellen Konditionen der Akquisitionen wurden nicht bekanntgegeben.

Die Übernahmen spiegeln den Kapitalallokationsrahmen von KLD wider und zeigen das Engagement für ein langfristiges Umsatzwachstum, durch die Identifikation von Akquisitionszielen, die die globale Präsenz, technologischen Fähigkeiten und den Kundenstamm ausbauen. SLS und Compiled sollen bis zum vierten Quartal 2019 vollständig integriert sein, was nach der vollständigen Zusammenführung erhebliche Kosteneinsparungen ermöglicht. Die Akquisitionen werden das Ergebnis 2019 positiv beeinflussen und sollen im Jahr 2020 zu einem Umsatzplus von 12 Millionen US-Dollar führen.

"Diese Transaktionen stellen wichtige Meilensteine für unser Unternehmen dar, mit denen wir das Geschäft ausbauen und unser Angebot an Information Governance und eDiscovery-Software erweitern", sagte Chris Weiler, CEO von KLD. Der solide Kundenstamm von Strategic Legal Solutions hat nun Zugriff auf die umfangreiche Plattform von KLD und das ReadySuite-Angebot von Compiled bietet zusätzliche Flexibilität, um die besonderen Anforderungen der Branche an das Datenmanagement zu erfüllen. Zusammen erweitern diese Akquisitionen unsere Kundenbasis um wichtige Kundenbeziehungen, stärken unsere End-to-End-Technologieplattform und bieten ein beachtliches Umsatzpotential für die Zukunft".

"Während wir uns dem Abschluss der Fusion zwischen KLD und Pivotal nähern, freuen wir uns, dass Chris mit seinem Team positive Tuck-In-Akquisitionen identifiziert und durchführt, die die langfristige Wertschöpfung für alle Aktionäre beflügeln werden", sagte Jonathan Ledecky, Chairman und CEO von Pivotal. "Eine disziplinierte M&A-Strategie ist ein zentraler Grundsatz unserer Investitionsarbeit und ein wichtiger Wachstumstreiber für KLD. Wir freuen uns darauf, auf dieser Dynamik aufzubauen und die M&A-Strategie von KLD weiter umzusetzen."

Strategic Legal Solutions bietet eDiscovery und Managed Document Review Services hauptsächlich in New York und Michigan an. Mit der Erweiterung um eine Managed Document Review Einrichtung in Detroit, Michigan, stehen die Managed Document Review Kapazitäten von KLD an 13 Standorten in sechs Ländern zur Verfügung. Jay Horowitz, CEO und Gründer von SLS und 23-jähriger Branchenveteran, wird KLD als Senior Vice President, Global Solutions Strategy, beitreten und weiterhin die wichtigsten Beziehungen von SLS zu AmLaw 100 Anwaltskanzleien und Fortune 100/500 Unternehmen pflegen. "Dies ist ein spannendes Kapitel für uns, da wir der KLD-Familie beitreten", sagte Herr Horowitz. "Unsere Kunden, zu denen einige der größten Unternehmen der Welt gehören, werden bald von der fortschrittlichen Technologie, der globalen Präsenz und dem Kundenservice von KLDiscovery profitieren."

Compiled ist Anbieter von ReadySuite, seinem Self-Service- und abonnementbasierten Flaggschiff,  welches Anwaltskanzleien, Dienstleistungsunternehmen, Beratern und Unternehmen dabei hilft, Discovery-Dokumente in ihrem eDiscovery-Workflow zu verarbeiten. ReadySuite wird weiterhin als eigenständiges Serviceangebot angeboten werden und außerdem in Nebula, der proprietären E-Discovery-Plattform von KLD, integriert. Der bisherige CEO Justin Blessing wird als Director of Engineering zu KLD wechseln. "Die Integration des einzigartigen Toolsets von ReadySuite wird die Leistungsfähigkeit der erstklassigen Plattform Nebula von KLD weiter ausbauen - ein Gewinn für unseren globalen Kundenstamm", sagte Herr Blessing.

Zusätzliche Informationen und wo man sie findet (in englischer Sprache)

Pivotal has filed a Registration Statement on Form S-4, including a proxy statement/prospectus, with the Securities and Exchange Commission ("SEC") to be used in connection with its meeting of stockholders to approve the proposed transaction with KLD. The proxy statement/prospectus will be mailed to stockholders as of a record date to be established for voting on the proposed business combination. INVESTORS AND SECURITY HOLDERS OF PIVOTAL ARE URGED TO READ THE PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about Pivotal and KLD once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Pivotal when and if available, can be obtained free of charge on Pivotal's website at www.pivotalac.com or by directing a written request to Pivotal Acquisition Corp., c/o Graubard Miller, The Chrysler Building, 405 Lexington Avenue, 11th Floor, New York, New York 10174.

Participants in the Solicitation

Pivotal and KLD and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of Pivotal's stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of Pivotal's directors and officers in Pivotal's filings with the SEC, including Pivotal's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which was filed with the SEC on April 1, 2019. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Pivotal's stockholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus.

No Offer or Solicitation

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Compiled

Since 2008, Compiled has created specialized software tools to aid in meeting tight litigation deadlines while adhering to strict quality standards. ReadySuite, the bundled suite of these tools, gives nontechnical and technical eDiscovery professionals the ability to perform a number of quality control, load file manipulation and image processing steps to data involved in litigation or regulatory matters. Clients include law firms, eDiscovery service providers and in-house legal teams. More information can be found at www.compiled.com.

About Strategic Legal Solutions

Strategic Legal Solutions is a global provider of end-to-end eDiscovery, corporate and staffing support to AmLaw 100 firms and Fortune 500 corporations across industry sectors. With 20 years of experience, Strategic Legal Solutions offers its clients state-of-the-art legal support services including forensic collection, data processing and hosting, early case assessment, analytics (e.g., threading and predictive coding), managed document review, production and provides consultation for information governance and cybersecurity. For more information, please visit www.strategiclegal.com.

About KLDiscovery

KLDiscovery provides technology-enabled services and software to help law firms, corporations, government agencies and consumers solve complex data challenges. The company, with offices in 40+ locations across 20 countries, is a global leader in delivering best-in-class eDiscovery, information governance and data recovery solutions to support the litigation, regulatory compliance, internal investigation and data recovery and management needs of our clients. Serving clients for over 30 years, KLDiscovery offers data collection and forensic investigation, early case assessment, electronic discovery and data processing, application software and data hosting for web-based document reviews, and managed document review services. In addition, through its global Ontrack Data Recovery business, KLDiscovery delivers world-class data recovery, email extraction and restoration, data destruction and tape management. KLDiscovery has been recognized as one of the fastest growing companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte (Deloitte's Technology Fast 500) and CEO Chris Weiler was recognized as a 2014 Ernst & Young Entrepreneur of the Year™. Additionally, KLDiscovery is a Relativity Certified Partner and maintains ISO/IEC 27001 Certified data centers around the world. For more information, please email info@kldiscovery.com or visit www.kldiscovery.com.

About Pivotal Acquisition Corp.

Pivotal Acquisition Corp. (NYSE: PVT), a public investment vehicle, is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Pivotal's securities are quoted on the New York Stock Exchange under the ticker symbols PVT, PVT WS and PVT.U. For more information, visit www.pivotalac.com.

Forward Looking Statements

This press release includes "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding KLD's future financial and business performance for the full-year 2019, attractiveness of KLD's product offerings and platform and the value proposition of KLD's products, are forward-looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Pivotal's or KLD's management's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available following any redemptions by Pivotal stockholders; the ability to meet the NYSE's listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; KLD's ability to execute on its plans to develop and market new products and the timing of these development programs; KLD's estimates of the size of the markets for its solutions; the rate and degree of market acceptance of KLD's solutions; the success of other competing technologies that may become available; KLD's ability to identify and integrate acquisitions; the performance and security of KLD's services; potential litigation involving Pivotal or KLD; and general economic and market conditions impacting demand for KLD's services. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, the failure of other closing conditions, as well as other risks and uncertainties set forth in the "Risk Factors" section of Pivotal's Registration Statement on Form S-4 and any subsequent reports that Pivotal files with the SEC. Neither Pivotal nor KLD undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contacts

Marc P. Griffin
646-277-1290
Marc.Griffin@ICRinc.com

Michael Bowen
203-682-8299
Michael.Bowen@ICRinc.com

Media Contact

Krystina Jones
888.811.3789
krystina.jones@kldiscovery.com


Über KLDiscovery
KLDiscovery bietet technologisch führende Dienstleistungen und Software, um Anwaltskanzleien, Unternehmen, Behörden und Verbrauchern zu helfen, entscheidende Informationen aus komplexen Datenmengen zu gewinnen. Das Unternehmen ist mit mehr als Niederlassungen in 20 Ländern vertreten und zählt zu den weltweit führenden Anbietern erstklassiger Lösungen für die Bereiche eDiscovery, Information Governance und Datenrettung. Diese Lösungen erfüllen die Anforderungen unserer Kunden in Bezug auf Rechtsstreitigkeiten (Litigation), Compliance, interne Untersuchungen, Datenrettung und Datenmanagement. KLDiscovery stellt seine Dienstleistungen seit über 30 Jahren bereit und bietet Datenerfassung und forensische Untersuchung, Early Case Assessment, eDiscovery und Datenverarbeitung, Anwendungssoftware- und Datenhosting für webbasierte Dokumentensichtungen sowie Managed Document Review Services. Unter der weltweiten Marke Ontrack Data Recovery stellt KLDiscovery weltweit erstklassige Lösungen für Datenrettung, E-Mail-Extraktion und -Wiederherstellung, Datenlöschung und Tapemanagement bereit. KLDiscovery ist laut Inc. Magazine (Inc. 5000) und Deloitte (Deloitte Technology Fast 500) eines der am schnellsten wachsenden Unternehmen in Nordamerika. Außerdem wurde CEO Chris Weiler im Jahr 2014 von Ernst & Young mit der Auszeichnung Entrepreneur of the Year™ geehrt. KLDiscovery ist Relativity Certified-Partner und betreibt weltweit ISO/IEC 27001 zertifizierte Rechenzentren. Wenn Sie weitere Informationen wünschen, wenden Sie sich bitte per E-Mail an info@kldiscovery.com oder besuchen Sie unsere Website www.kldiscovery.com.

Medienkontakt:

Stephanie Büchel
+49 (0)7031 644238
stephanie.buechel@kldiscovery.com