WASHINGTON, Sept. 10, 2018 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the sale of its Ringtail® e-discovery software to Nuix, a security, risk and compliance software company. The purchase price for the sale of the Ringtail software, related assets and transition support services is $55.0 million. As the largest Ringtail customer, FTI Consulting has entered into a three-year preferred partner licensing agreement with Nuix for the Nuix Ringtail Review platform.
“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.”
Commenting on the transaction, Rod Vawdrey, Group Chief Executive Officer of Nuix, added, “The acquisition of Ringtail further builds on our position as a leading e-discovery processing, review and analytics platform. 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 their enterprise e-discovery needs without compromise. Technology is transforming the e-discovery industry and customer requirements are increasing in complexity and cost, and our customers and partners have been asking for a better end-to-end solution. Integrating the power of Ringtail into the Nuix platform equips our extensive partner and distribution network to raise the bar for excellence in e-discovery.”
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2017.
