Veristar, a two-year-old company that provides services in e-discovery and litigation support, has acquired the assets of Planet Data Solutions, a 20-year-old company that provides contract analysis and e-discovery technology and services.
Under the terms of the acquisition, Planet Data’s Exego software division will operate under a separate Exego LLC. Exego is a platform that provides contract analysis, data extraction and data processing.
The Planet Data team will now report to Veristar President and CEO Rick Avers. Dave Cochran, COO at Planet Data, will become president of Exego.
Launched in November 2019 by veteran litigation support professionals, Veristar, headquartered in Chicago and New York, provides best-of-breed solutions for complex forensic data collection, Relativity hosting and document review services, along with specialized legal staffing support. This acquisition, it said, enables it to further continue its strategic growth and expansion plans to better serve the needs of it corporate and law firm clients.
“We are excited to be joining forces with the outstanding Planet Data team,” Avers said in a statement provided by the company. “Acquiring the deep bench of litigation support professionals at Planet Data greatly enhances our current capabilities and positions Veristar for continued growth. We also are excited to leverage the powerful Exego platform and its proven track record of reducing client costs.”
“There are many synergistic opportunities between our companies, and I believe our clients are going to reap the benefits once they see the capabilities driven by the caliber of the combined Veristar and Planet Data teams,” Howard Reissner, co-founder and CEO of Planet Data, said. “We are excited for this next phase and remain steadfast in our commitment to serving our clients with outstanding people, processes and technology.”
Financial terms of the deal were not disclosed.
