Company Growth Dramatically Outpaces Hot E-Discovery Market
SEATTLE — Oct. 2, 2007 — Attenex Corp., a leading e-discovery software provider, has placed third in Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings for the Technology Fast 50 are based on the percentage of revenue growth over the previous five years, and this is the third consecutive year that Attenex has been named to the Technology Fast 50. Last year, Attenex was ranked sixth and in 2005 the company was named a ‘Rising Star’ in Deloitte’s Fast 50 Program.
Attenex, with a 2,719% revenue increase from 2002-2006 and a 92% compounded annual growth rate (CAGR) for that period, is growing dramatically faster than the hot e-discovery market. For example, the influential 2007 Socha-Gelbmann Annual Electronic Discovery Survey calculated a 49% CAGR from 2002-2006 for the e-discovery market. Moving forward, analyst firm Forrester Research estimates that the e-discovery technology industry will grow from $1.5 billion in 2006 to almost $4.9 billion by 2011.
“It’s an incredible honor for us to be recognized as a Deloitte Fast 50 award winner for a third year in a row,” said Kimra Hawley, CEO of Attenex. “We began with a unique vision for our industry and have quickly established ourselves as the industry standard for legal processing, review and analysis of data. As more companies begin to address their e-discovery needs, we’re confident that we’ll continue to outpace the tremendous growth within the e-discovery market.”
Attenex offers the Attenex® Patterns® E-Discovery Software, an open software platform that lets corporations and their law firms establish standardized e-discovery processes, providing dramatic reductions in the time, effort and costs associated with e-discovery. As more corporations and law firms have adopted e-discovery, Attenex has become a proven leader in the industry for a number of reasons, including:
- Patented visualization software: Attenex Patterns clusters data by similar concepts, helping legal teams review data faster and thereby driving down the cost and expense associated with costly document review projects;
- Largest global network of legal service providers in the industry: With 25 Attenex Advantage™ partners, corporations and law firms can select the deployment method and add-on services that meet their particular IT environment and litigation needs;
- Proven track record of success: Fortune 1000 corporations and AMLAW 100 firms have standardized their e-discovery process on Attenex Patterns for use in complex investigations, litigation and regulatory requests;
- Legal industry heritage: Unlike other vendors in the market, Attenex Patterns was developed to map to the unique business processes of legal review.
“To rank on Deloitte’s Technology Fast 50, companies must have phenomenal revenue growth over five years,” said Larry Hile, a Partner in Deloitte’s Technology, Media & Telecommunications (TMT) practice in Seattle. “Attenex has proven to be one of the fast-growth success stories in Washington State and we applaud their dedication to making their vision a reality.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie, Citibank, AH&T Insurance and the Puget Sound Business Journal.
About Deloitte
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Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
About Attenex
Attenex Corp. is changing the way corporations manage e-discovery. With an open software platform and industry expertise, Attenex enables corporations and their law firms to establish standardized e-discovery processes that reduce the risk, complexity and cost of litigation, regulatory requests and internal investigations. Whether deployed on-premise or as a hosted service through the industry’s largest network of global service providers, Attenex® Patterns® software provides corporations with control of e-discovery and the flexibility to choose the best solution for their needs. Attenex is headquartered in Seattle, Washington, and more information is available at www.attenex.com.
Attenex Advantage Partners represent the industry’s largest network of experienced legal industry service providers and consulting organizations that offer Attenex software to dramatically reduce the total cost of discovery for their clients. For more information, visit http://www.attenex.com/partners/.