) has been on the move over the last few weeks. After signing a
wave of new deals, the company has now acquired Lateral Data, a
provider of e-discovery technology, in a deal worth $30 million.
The e-discovery technology deals with locating, searching and
securing data, which is used as possible evidence in regulatory and
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The deal will strengthen Xerox's standing in the rapidly growing
e-discovery market, as the acquisition complements the services
provided by Xerox Litigation Services, which now houses the
acquired Lateral Data. Xerox has made the right move to expand its
footprint in the lucrative enterprise e-discovery market, which is
projected to be worth $1.6 billion by next year.
Viewpoint, Lateral Data's e-discovery software, provides solutions
in a simplistic and cost-effective manner to corporate legal
departments and law firms. The software enables users to control
the complete e-discovery process through a single application,
bringing down costs, saving time and doing away with the need for
buying different products and services from several vendors.
Moreover, the software's flexibility will enable Xerox to provide
better services to its clients. Viewpoint is capable of collecting,
analyzing, reviewing and managing data from different sources such
as email, desktops, social media and cloud-based email and business
collaboration platforms like Google Docs and Microsoft SharePoint.
Users can choose to adopt a cloud-based solution, a do-it-yourself
solution or a customized combination of both.
With such features under the hood, it is not surprising that
Lateral Data provides services to numerous corporations around the
world. Its clients include Fortune 500 companies and famous law
firms such as Fenwick & West LLP, Quinn Emanuel, Kramer Levin
and consultancies such as Grant Thornton. This makes the deal even
better as Xerox will now have access to Lateral Data's illustrious
We currently have a long-term Neutral recommendation on Xerox. The
company, which competes with
), maintains a Zacks #3 Rank, which translates into a short-term (1
to 3 months) Hold rating.