Crest Rock Partners has acquired CloudNine, a provider of e-discovery software used by corporations, law firms, governments, and legal service professionals.
CloudNine’s software is used to process, review, produce, and perform legal discovery. The company offers both cloud-based and on-premises software under the brands CloudNine Explore, LAW, Concordance and Review. CloudNine, led by CEO Tony Caputo, was founded in 2002 and is headquartered in Houston.
“We look forward to partnering with the team at Crest Rock, who bring meaningful software and technology experience, in addition to capital, to support our strategic goals and help determine the future strategy of the business,” said Mr. Caputo. “We are always improving our value proposition and product to serve more customers, and Crest Rock will help guide our strategic initiatives and set goals for how to get there.”
“The litigation environment is becoming increasingly complex with the growth and proliferation of electronic data,” said Steve Johnson, co-founder and a partner at Crest Rock. “CloudNine is well-positioned to address its customers’ needs with its long-established expertise and differentiated software suite. We are excited to partner with CloudNine as they continue to help a growing list of legal professionals navigate their eDiscovery needs.”
Canaccord Genuity, a Toronto-headquartered investment bank, was the financial advisor to CloudNine on this transaction.
Crest Rock makes control investments in software, technology, IT services, tech-enabled business services, and manufacturing companies that have enterprise values from $15 million to $150 million. The firm was founded in 2019 and is based in Denver.
© 2021 Private Equity Professional | July 7, 2021
