Epiq E-Discovery Buyout Valued at $1 Billion

In the largest deal this year in the e-Discovery service space, Epiq Systems announced on Wednesday that it has agreed to a stock purchase buyout valued at $1 billion.

Under the terms of the deal announced, the Ontario Municipal Employees Retirement System’s private equity arm and Harvest Partners will pay $16.50 in cash for Epiq’s shares, a 42 percent premium over its closing price of $11.63 in February when months of speculation that a buyout was in the offing began. Per terms of the deal, Epiq will be combined with DTI, which is majority owned by the Ontario pension system (OMERS).

Based in Kansas City, Nasdaq-listed ...