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EDEN PRAIRIE, Minn. /PRNewswire/ -- Xiotech(R) Corporation said today it has completed its acquisition of the assets of Daticon(R) a Norwich, Conn.-based litigation support and document conversion services company for $30 million. Xiotech has pledged to keep Daticon's operations based in Norwich, protecting the company's 170 local jobs.
The combined company now has approximately 500 employees based primarily in Eden Prairie, Minn.; Norwich, Conn.; Vancouver, Wash. and Hyderabad, India.
Operating independently as Daticon, a Xiotech Company, the organization will continue to manage paper and electronic documents for law firms, corporations and government agencies involved in extensive litigation, merger activities or regulatory-compliance matters. Daticon will continue its support of large matters for customers such as the Securities and Exchange Commission, the Federal Trade Commission and the Justice and Defense departments.
Daticon is now well positioned for growth as part of a Xiotech corporate structure. Moreover, the company has identified an opportunity to expand its electronic evidence management services, leveraging expertise from Xiotech.
"This transaction highlights the increasing importance of corporate computing and storage to the legal discovery process," said Michael A. Clark, managing director of EDDix LLC. "When I introduced the idea of acquiring Daticon, Xiotech management immediately understood how they could leverage their enterprise domain knowledge and operational expertise to take Daticon to the next level of market leadership."
"Daticon's reputation for quality service is strong, and we look forward to growing that reputation with the help of additional resources from Xiotech," said Xiotech President and CEO Casey Powell. "There are exciting new market opportunities that a combined Daticon and Xiotech are uniquely positioned to pursue."
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