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Epiq Systems

URL: http://iqreview.epiqsystems.com/

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Summary

Topic: DESCRIPTION Date: 2016-07-28 10:08:46

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Challenge

Topic: PROFITABILITY Date: 2014-04-30 16:48:12 Premium Members Only

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Market

Topic: EMPLOYEES Date: 2014-03-07 10:29:12 Premium Members Only

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Strength

Topic: CASH Date: 2013-11-18 12:23:45 Premium Members Only

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Market

Topic: DESCRIPTION Date: 2013-11-05 15:03:23 Premium Members Only

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Strength

Topic: EMPLOYEES Date: 2013-01-09 23:13:58 Premium Members Only

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Summary

Topic: DESCRIPTION Date: 2013-01-09 23:11:36 Premium Members Only

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Summary

Topic: DESCRIPTION Date: 2016-07-28 10:08:46

Epiq history (from Epiq feedback) Also, just as a clarification, Epiq is not a pure-play eDiscovery company. That said, we are unique in the public market as the only pure-play legal services company. When Epiq went public in 1997, it offered only bankruptcy and trustee services and solutions. Later, we added class action settlement administration. Then in the mid-2000s we entered eDiscovery but did not see a large amount of growth until the period between 2010-2013. While eDiscovery (reported as our Technology segment) grew to become the largest part of our business, our Bankruptcy & Settlement Administration segment still represents 30% of annual revenues.

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Challenge

Topic: PROFITABILITY Date: 2014-04-30 16:48:12

Reading into the Epiq 2013 10-K and the 2014 Q1 10-Q filings indicates that Epiq continues to grow and pay dividends while struggling to stay profitable with low margin document review revenue. eDiscovery is generally a high margin market space. Thus eDJ feels that Epiq may be losing momentum.

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Market

Topic: EMPLOYEES Date: 2014-03-07 10:29:12

High level employee turnover may signal internal transformations or the need for fresh perspective to keep Epiq's momentum in our evolving U.S. market space. Epiq continues to pay quarterly dividends and reported $438.7 million in revenue for 2013, which makes it one of the largest eDiscovery service providers. However, this eDiscovery market is changing and consolidating very rapidly. We have not seen Epiq using its capital to acquire smaller technology or service providers since 2011, which raises the question as to their strategy to sustain growth. Epiq has continued to announce expansion in the form of new global data centers and offices, showing that their offerings resonate with international customers.

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Strength

Topic: CASH Date: 2013-11-18 12:23:45

Epiq continues to be one of the few publically owned global service providers focused exclusively on eDiscovery that has consistently grown their revenue. Their Q3 2013 press announcement, http://www.epiqsystems.com/News.aspx?id=2147484459, declared a dividend and funded a continuing stock buyback program to the tune of 6% of outstanding stock. With the continued consolidation in the service provider market, Epiq clearly has continued to adapt to the changing times.

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Market

Topic: DESCRIPTION Date: 2013-11-05 15:03:23

Asian eDiscovery Note: eDJ spoke with the team members of Epiq in Hong Kong and Japan to get an overview of their service offering in the Asian region. Epiq's biggest differentiater in the market is their managed review offering. Epiq’s Japan review center currently has 30 available contract attorney spots regularly available and can easily expand to 50 depending on the size of the project. The Hong Kong review center has space for 24 reviewers. Epiq has 4 US attorneys on staff in Asia and 2 are fully bilingual. Their managed review workflow is extremely rigid and focused on delivering high quality results which is to be expected since it was designed and implemented by practice leader, Laura Kibbe. Epiq utilizes several different technologies to provide services to the Asian market. From our conversations, it seemed like their own technology, eDMX (processing) and Documatrix (review), was downplayed in favor of utilizing 3rd party applications like Clearwell and soon to launched Relativity. It's positive that they recognize that the market may be more comfortable with these applications which in turns drives the more profitable review business. Epiq is poised to be a market leader in the Asian marketplace as they have solid team in place in both Hong Kong and Japan.

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Strength

Topic: EMPLOYEES Date: 2013-01-09 23:13:58

Large group of experienced consultants

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Summary

Topic: DESCRIPTION Date: 2013-01-09 23:11:36

Epiq Systems looks to have grown year-over-year in 2012, assuming the 4th quarter 2012 closes out as planned. The company has added a number of consultants and reports having done over 80 projects using predictive coding. That experience can be a differentiator as corporations and law firms look to providers with pragmatic experience with advanced forms of TAR.

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