News & Events
NEW YORK, January 26, 2009 - 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 into its technology organization --- less than eight months after announcing the acquisition in June 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 estimates will reach $6.6 billion in revenues in 2009.(1)
"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 FTI’s existing team and Ringtail software has the potential to completely change the game in the e-discovery marketplace,” said Jack Dunn, 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 provides 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 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.
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.
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.
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, Ringtail, Attenex and Patterns are registered trademarks of FTI Consulting, Inc. or a subsidiary.
Any other trademarks are the property of their respective owners.