Nuix, a security, risk, and compliance software company, today acquired the Ringtail eDiscovery software business from FTI Consulting for $55 million USD. Combining the patented processing power of the Nuix Engine across more than 1,000 file types and data formats with Ringtail’s efficient review and automation capabilities creates an end-to-end eDiscovery platform without compromise.
This transaction unleashes the capabilities of Nuix and Ringtail to address the entire eDiscovery market, which research firm MarketsandMarkets estimates at more than US$10.76 billion in 2018, growing annually by 10% through 2023.1 It allows Nuix to offer an incredible solution across the eDiscovery workflow and enables Ringtail to go to market as part of an independent and trusted global software organization.
“We know the practice of eDiscovery is hard and our customers and partners have been asking consistently for a better end-to-end solution,” said Rod Vawdrey, Group CEO of Nuix. “Integrating the power of Ringtail into the Nuix platform is truly transformational for the legal, risk, and compliance industries and equips our extensive partner and distribution network to raise the bar for excellence and pace of innovation in eDiscovery.
“Corporations, governments, and legal service providers who depend on Total Data Intelligence from Nuix will be further empowered to simplify, de-risk, and speed up eDiscovery without compromise.”
Nuix and Ringtail customers can immediately take advantage of the already-deep integration between the two platforms, which is the result of a long-term partnership between the two vendors.
“Ringtail is a superb software and it, together with its highly experienced team, has achieved a leading reputation in the e-discovery industry,” said Sophie Ross, Global Chief Executive Officer of the Technology segment at FTI Consulting. “We believe Nuix’s development expertise and commitment to Ringtail will allow Ringtail to flourish and grow, and we are pleased that our consultants will continue to offer and use Ringtail along with other tools to serve our global clientele.”
From today, customers can obtain Ringtail from Nuix’s global partner network or from Nuix as on-premises software or a hosted service.
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