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Xerox Acquires Lateral Data for $30 Million
Xerox Corp. acquired Lateral Data, a provider of electronic legal discovery technology, for about $30 million in a deal that expands its litigation services offerings.
Xerox, long known as a maker of printers and copiers, has been acquisitive lately as it makes a transformation to a services-focused company.Houston-based Lateral Data’s management and employees will remain with the company. The company’s Viewpoint software is used to locate and secure data for potential use in legal and regulatory matters and is expected to complement offerings of Xerox’s litigation services division.
Xerox bulked up its services business two years ago with its purchase of Affiliated Computer Services Inc., its largest acquisition ever, and has continued to expand and diversify in the services area with a string of smaller deals.Xerox in April reported that the company passed a milestone in its first quarter, as revenue growth from service offerings pushed the segment to more than half of its top line.
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