DISCO Expands Products Portfolio, Acquires Legal Hold and Workflow Technology Assets

Rhea-AI Summary

DISCO (NYSE: LAW) has acquired Hold360 and Request360 from Congruity 360, enhancing its cloud-based ediscovery platform. The acquisition introduces advanced legal workflow capabilities, allowing for streamlined compliance with legal preservation obligations. These products enable legal teams to electronically hold data without involving IT departments, promoting efficiency and compliance with state and federal laws. DISCO aims to leverage these technologies to transform legal work and better serve its customers.

Positive

• Acquisition of Hold360 and Request360 strengthens DISCO's product offerings.
• New technologies improve compliance with legal preservation obligations.
• Silent hold capabilities enhance efficiency by removing IT dependencies.

Negative

• None.

AUSTIN, Texas--(BUSINESS WIRE)-- Legal technology leader DISCO (NYSE: LAW) today announced it has acquired legal workflow products Hold360 and Request360, as well as related regulatory and alert solutions, from Congruity 360, LLC. These critical legal workflow capabilities will integrate with DISCO’s market-leading cloud-based ediscovery platform and provide a modern, digital solution for corporate legal hold obligations and legal request compliance.

Hold360 and Request360 are next-generation, streamlined technology solutions that eliminate the challenges from legacy solutions, which relied on human processes, teams of attorneys and legal professionals, and limited technological solutions to ensure compliance with legal preservation obligations.

With Hold360 and Request360, DISCO will expand its solution set to address the legal hold requirements of customers, including the ability to hold data and documents in place electronically rather than recreate, store, and manage copies of duplicative data. Further, silent hold capabilities allow legal teams to easily enact holds, without the need to engage IT departments to ensure retention of sensitive information. The easy-to-deploy solutions and workflow allow corporate legal teams to save time and resources and improve their compliance with state and federal laws.

“The legal hold product team that is joining DISCO has built modern, complete solutions for the legal workflow needs of today, complementing DISCO’s solutions that empower legal departments to focus on delivering better legal outcomes,” said DISCO Chief Product Officer Kevin Smith. “We are excited to further demonstrate how great technology can empower legal teams, save time and money, increase efficiency, and ensure compliance. This also addresses the unmet needs of our legal services partners, many of whom have relied on legacy services to fill this critical gap for their customers.”

“When you look at the legal technology market, there are few companies that have enough disruptive DNA to upset the status quo. DISCO has the product-centricity, go-to-market scale, and velocity to drive real change,” said John Sanchez, founder of Hold360 and Request360. “We are excited to join the DISCO team and accelerate our contribution to transforming how legal work is done in the modern era.”

About DISCO

DISCO (NYSE: LAW) provides a cloud-native, artificial intelligence-powered legal solution that simplifies ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated solution enables legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters.

References to “DISCO”, “our,” or “we” in this press release refer to CS Disco, Inc. and its subsidiaries on a consolidated basis.

Forward-Looking Statements

This press release contains forward-looking statements, including, among other things, statements regarding potential demand for and benefits of Hold360 and Request360 and the complementary nature of such products to DISCO’s current product offerings. You should not rely upon forward-looking statements as predictions of future events.

The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause DISCO’s actual results, performance, or achievements to differ materially, including (i) our ability to effectively add new customers; (ii) our ability to effectively increase usage and penetration with our existing customer base; (iii) our ability to expand our sales coverage and establish a digital sales channel; (iv) our ability to expand internationally; (v) our ability to extend and strengthen our channel partnerships and integrations; (vi) our ability to compete effectively with existing competitors and new market entrants; (vii) general market, political, economic, and business conditions; and (viii) the impact that the ongoing COVID-19 pandemic and any related economic downturn could have on our or our customers’ businesses, financial condition and results of operations.

The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, filed with the SEC on November 10, 2021. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that we make with the SEC from time to time.

Forward-looking statements represent DISCO’s management’s beliefs and assumptions only as of the date such statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223006409/en/

Media Contact

Laura Wooster

Media@csdisco.com



Investor Contact

Lee Robinson

IR@csdisco.com

Source: DISCO

FAQ

What is the significance of DISCO acquiring Hold360 and Request360?

The acquisition allows DISCO to enhance its legal workflow solutions and improve compliance capabilities within its ediscovery platform.

How will the acquisition of Hold360 and Request360 affect DISCO's customers?

Customers will benefit from streamlined legal processes, increased efficiency, and improved compliance with legal hold requirements.

When was the acquisition of Hold360 and Request360 announced?

The acquisition was announced on February 23, 2022.

What are Hold360 and Request360 designed to do?

They are designed to simplify legal hold processes and ensure compliance with preservation obligations, reducing reliance on legacy solutions.

Will the acquisition impact DISCO's stock performance?

While there are potential synergies from the acquisition, actual impacts on stock performance will depend on market response and implementation success.