Kroll Acquires U.K. Market Leader in Litigation Support TechnologiesLONDON and NEW YORK, 4 December, 2003 -- Kroll Inc., (NASDAQ: KROL), the global risk consulting company, announced today that it has acquired Oyez Legal Technologies Limited (OLT), the U.K market leader in litigation support and legal information management services, from the OyezStraker Group Limited. The acquisition, which was completed today, was effective 1 December and is expected to be accretive in 2004. OLT, which is based in London and has approximately 120 employees, had revenues of £6.1 million (US$ 10.4 million) for its fiscal year 2003, which ended 31 August.
“This acquisition gives Kroll the instant leadership position in a rapidly growing industry in the European market, while meeting all of our other strategic development criteria,” said Michael Cherkasky, Kroll president and chief executive officer. “OLT expands our overall base of scaleable businesses, gives us a foothold in the electronic discovery business internationally, adds new capabilities in scanning and coding, and creates opportunities to sell Kroll’s broad suite of services to OLT’s blue-chip legal and corporate clientele in the UK.”
OLT will operate as a part of Kroll Ontrack’s worldwide operations, becoming Kroll Ontrack Legal Technologies Limited. Headed by President Ben Allen, Kroll Ontrack Inc. is Kroll’s electronic evidence and data recovery subsidiary, which operates as Kroll’s Technology Services Group. It is a leader in the U.S. electronic discovery market.
In addition to electronic data disclosure services, OLT offers a full suite of legal information management services, including trial and evidence management solutions, database hosting, courtroom presentation services, consultancy, project management, scanning, high volume printing, and both objective and subjective coding. OLT is noted for, and has received awards for, its work on some of Europe’s highest profile cases, among them The Bloody Sunday and Harold Shipman Public Inquiries, and the Maxwell Trial.
Kroll Ontrack – OLT Combination Provides Full Service Client Solution
“Based on our experience with the U.S. market, we know that the market demand for electronic discovery (or disclosure in the U.K.) will grow rapidly in the coming years, yet the market today is largely still focused on paper,” said Ben Allen, president of Kroll Ontrack. “With OLT, we can support clients’ complete litigation needs today and help them address the challenges associated with the electronic documents as their cases demand, which puts us in the position of being the only full-service litigation support provider in the U.K.”
“With OLT on our team, we can offer unmatched capabilities in the European market to support clients’ complete litigation needs, which is in unison with our strategy worldwide,” continued Allen. “The migration of documents from paper to electronic form is a recognized and growing trend, but it will be some time before we are living in a paperless world – until then, the leaders in this emerging market will need to make paper and electronic discovery seamless.”
OLT’s Management Joins the Kroll Ontrack Team
OLT’s three directors, Kelvin McGregor-Alcorn, Jeremy Rooth and Martin Carey will join the Kroll Ontrack team following the acquisition, adding a wealth of experience in and knowledge of the U.K. litigation support and legal industry to the management team.
“We are excited about joining the Kroll Ontrack team, and complementing its special expertise with ours,” said Kelvin McGregor-Alcorn, director of strategic development at OLT. “Kroll’s Ontrack’s leadership in developing electronic discovery technology combined with our proven abilities and reputation for unparalleled quality in legal and litigation support services provides a truly synergistic opportunity. It significantly enhances the range of services we can provide to our existing and prospective customers, giving them the most advanced capabilities available in the industry at large.”
Kroll Ontrack Legal Technologies will maintain its offices in Cardinal Tower on Farringdon Road in London.
About Kroll and Kroll Ontrack:
Kroll Inc. (NASDAQ: KROL), the world's leading independent risk consulting company, offers a broad range of investigative, intelligence, financial, security and technology services through more than 60 offices on six continents. Kroll Ontrack Inc, a wholly-owned subsidiary which operates as Kroll’s Technology Services Group, provides electronic evidence and data recovery solutions to help individuals, companies, law firms and federal agencies quickly and cost-effectively recover electronic information. Headquartered in New York, Kroll serves clients in Europe through subsidiary offices in the U.K., France, Germany, Italy, Poland, Russia, Switzerland and Spain.