|By Marketwired .||
|June 9, 2014 07:00 AM EDT||
AUSTIN, TX -- (Marketwired) -- 06/09/14 -- Mitratech, the leading provider of enterprise legal management solutions, announced today that it has reached agreement to acquire TeamConnect Legal Hold, previously a white-label solution for TeamConnect, developed by Kiersted Systems. This acquisition of TeamConnect Legal Hold further solidifies Mitratech's position as the most comprehensive provider of enterprise legal management solutions in the corporate legal industry.
While TeamConnect clients have been able to utilize the TeamConnect Legal Hold product as a key module on the TeamConnect platform for the last 4 years, direct control over the product will allow Mitratech to expand its investment and innovation in a product that provides significant value to the Office of the General Counsel.
"Our partnership with Kiersted Systems has been invaluable over the past 4 years," noted Mitratech CEO Jason Parkman. "With their support, almost 20% of TeamConnect clients have taken advantage of TeamConnect Legal Hold's mission-critical functionality. It is because of the value that our clients realize in this product that we pursued this acquisition."
Kiersted Systems President George Kiersted adds, "We look forward to a continued partnership with Mitratech as a key implementation partner for TeamConnect solutions, and we are proud that our development of the TeamConnect Legal Hold product has created value for legal departments globally."
TeamConnect Legal Hold helps legal staff create, maintain, and enforce a legal hold process that can withstand judicial scrutiny, minimizing the overall risk to the business. Legal departments are able to:
- Identify matters requiring legal hold early in the matter lifecycle, reducing risk to the organization
- Select custodians using integration with an HR database
- Get visibility throughout the legal hold lifecycle and quickly pull documentation needed for court appearances, with powerful out-of-the-box reporting.
- Send email notices to custodians and non-TeamConnect users, directing them to a secure site where they can attest to compliance and understanding of holds.
- Access recipient responses through mobile devices
- Get real-time tracking agreement and compliance
- Assert greater control of the discovery process by storing matter management and legal hold information in one central location
With almost 30 years of experience as the authority in enterprise legal management solutions, including matter management, spend management, contracts management, compliance solutions, and legal hold, Mitratech's products are used by more than 25% of the Fortune 500 and 100% of the Am Law 200. To learn more, visit www.mitratech.com
Mitratech is the leading provider of fully integrated enterprise legal management solutions for global legal departments of all sizes, including more than 25% of the Fortune 500 and more than 220 organizations in all. Mitratech's offerings include the flexible, comprehensive, and trusted TeamConnect and Lawtrac product platforms, both of which offer end-to-end matter management, e-Billing, legal hold, contracts management, entity management and GRC solutions. Mitratech clients are able to prove demonstrable value creation for their organization by automating legal workflows, improving business outcomes through actionable data and insight, increasing collaboration with external partners and reducing overall legal spend. To learn more, visit www.mitratech.com
Kiersted provides radically efficient electronic discovery and consulting services to law firms and corporate legal departments. With nearly three decades of exceptional service and proven results, clients rely on Kiersted for some of the largest and most complex projects. Their seasoned professionals help meet deadlines, manage costs, and reduce risk. Kiersted's consulting services provide expertise in matter management, electronic billing and legal hold. As a Relativity Premium Hosting Partner with kCura's Relativity Best in Service designation, Kiersted provides the best possible Relativity experience, combining exceptional project managers, talented developers, and a rugged, sophisticated infrastructure. Kiersted has offices in New York, Houston, and Newport Beach. To learn more, visit www.kiersted.com.