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FTI Consulting, Inc. to Acquire Attenex Corporation

By Brad Jenkins

New York, NY -- June 10, 2008 -- 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 signed a merger agreement to acquire Attenex Corporation, a leading eDiscovery software provider. The total purchase price for the transaction is approximately $88 million in cash and is expected to close in the third quarter of 2008 after expiration of the HSR waiting period. After amortization of intangibles, the acquisition is expected to be neutral to FTI?s earnings per share in 2008 and accretive in 2009. Attenex had revenue of approximately $25 million in 2007.

Founded in 2001 in Seattle, Washington, Attenex is a globally-recognized leader in the eDiscovery marketplace. Its innovative enterprise class Attenex Patterns® eDiscovery software automates data processing and provides powerful visualization tools for quickly analyzing massive amounts of electronically stored information (ESI). Attenex will be integrated into the FTI Technology segment. Kathryn Hardie, JR Jesson, Mike Kinnaman and Joe White will join FTI as senior managing directors in the Company?s Technology segment.

?We are very pleased to announce this important acquisition for FTI and its Technology segment. In Attenex, we add a market leader with a proven track record in the development and deployment of integrated enterprise class solutions for the eDiscovery market,? said Jack Dunn FTI?s president and chief executive officer. ?As with our watershed acquisition of Ringtail, the purchase of Attenex coupled with our newly forged strategic partnership with Endeca Technologies, Inc., also announced today, underscores our commitment to being the market leader in this rapidly growing business. Most importantly, these two steps complete our desire to create the largest, most robust eDiscovery company ? one that has visionary R&D, proprietary state of the art software, global distribution and fulfillment, and the leadership to continue rapid growth and to anticipate evolving client needs.?

Full post as published by Litigation support industry business news and information on June 11, 2008 (boomark / email).