LexisNexis Acquires Verilaw Technologies
Marks Baughan & Co. advises Verilaw Technologies, Inc. on the Announced Sale to LexisNexis
May 13, 2004
LexisNexis® U.S., a leader in legal, news and e-filing information services, and Verilaw Technologies, Inc., a provider of e-service and e-filing services to courts, government agencies and law firms, announced today that LexisNexis has acquired Verilaw Technologies, Inc. and its electronic court filing and attorney-to-attorney document exchange services. LexisNexis is a member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK].
Electronic filing and service are examples of how LexisNexis offers its customers a portfolio of products and services that go beyond authoritative legal research. These include electronic discovery, knowledge management, practice management, system hosting and disaster recovery services. The electronic service capability allows LexisNexis customers to compete more effectively with other law firms and expand their practices.
Electronic filing and service are at the heart of a profound change in the U.S. legal industry as attorneys seek increased control over delivery and management of information. Adoption of these services is increasing rapidly, as more and more attorneys see reduced costs and increased productivity by reducing reliance on couriers, photocopiers and express and U.S. mail services.
"The acquisition of Verilaw is another example of how LexisNexis provides services that go beyond research to help attorneys build and manage their practices efficiently and profitably and with the same confidence that attorneys approach the law itself," said Lou Andreozzi, president and chief executive officer, North American Legal Markets, LexisNexis.
"For attorneys, electronic filing and service and the ability to manage case files online are proven methods of increasing profitability and client satisfaction." Andreozzi said.
With the addition of the Verilaw customer base, LexisNexis will now have a strong national presence of e-filing with courts and law firms in 25 states, including New York, New Jersey, Pennsylvania, Massachusetts, Michigan, Minnesota and the Carolinas. It also generates momentum for courts and law firms in other states to adopt a service provider model of e-filing and e-service projects.
"This acquisition supports the work both LexisNexis and Verilaw are doing to provide state courts with secure, dependable and cost-efficient e-filing service that eliminates the courts' need to develop their own solutions while maximizing court resources," according to John Lawler, senior vice president of Emerging Markets, LexisNexis.
The addition of the Verilaw services will enable LexisNexis to accelerate the growth of e-serve usage, which already covers a base of thousands of law firms and tens of thousands of attorneys across the country.
"Joining LexisNexis offers us a tremendous opportunity to increase the overall sales, marketing, and development resources available to continue to build this market," said Brett Amdur, president and CEO, Verilaw.
Verilaw co-founders Amdur and Joe Helfrich and chief technology officer Joe Klimowicz will continue with the company after acquisition, maintaining relationships with courts and law firms and further advancing e-service and e-filing services. The acquired business will become part of the LexisNexis File & Serve unit and report to Michele Vivona, chief operating officer, LexisNexis Applied Discovery and LexisNexis CourtLink.
Verilaw Technologies, Inc. previously also provided court management systems, but that business has been separated from the e-filing business and was not acquired by LexisNexis.
Verilaw Technologies is a leading provider of e-filing and e-service applications for courts, law firms and administrative agencies. Based in Wayne, PA (a suburb of Philadelphia), Verilaw's systems service some of the largest cases pending in the United States , and distribute documents for thousands of law firms and users. Founded in 1999, Verilaw's court and law firm customer base is expanding dramatically as the demand for electronic document distribution continues to increase within the legal community.
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About Marks Baughan & Co.
Marks Baughan & Co. provides investment banking services to growth companies in the Financial Technology and Information Management sectors. Our narrow focus and deep expertise and relationships in these two verticals provide our clients with top-quality results driven by an efficient process. Started in 2004 by two former senior members of the Credit Suisse First Boston Technology Group, Marks Baughan & Co. has established itself as one of the most successful of the new boutique investment banks by combining bulge-bracket expertise with boutique service. Our clients range from public companies with multi-billion dollar market caps to private companies with $10 million in revenues. We deliver results for clients: advising on sales of entire companies and divisions, acquisitions, private placements of equity and debt securities, or strategic advisory services for CEOs and CFOs on public offerings, M&A plans, or investor positioning.
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