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Epiq Systems Inc. (NASD: EPIQ) this week acquired De Novo Legal LLC, a New York-based firm with service lines that include electronic discovery services, legal document review with contract attorneys and direct-hire legal staffing. De Novo had announced in October it was re-entering the legal executive search market with the hiring of Barry Bova, a former partner at Kingsbury Wax Bova, to lead the division.
Epiq paid $67.9 million at closing and will pay another $5.0 million which it is holding for 18 months as security for indemnification claims, according to a filing with the U.S. Securities and Exchange Commission. The deal also calls for earn-out payments of up to $33.6 million.
Based in Kansas City, Mo., Epiq’s service lines include legal technology for electronic discovery and other services. It posted revenue of $247.2 million in 2010.