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Brainspace Said To Be For Sale

Author: Artificial Lawyer

…Two sources independently told Artificial Lawyer in recent days that they understood the company is for sale. One source with extensive knowledge of the company said they had heard this information from ‘both inside and outside the company,’ but they could not confirm if a sale had already been reached yet…
…As to why Appgate and Medina Capital would potentially sell the business, the simple answer is that legal tech companies are seeing plenty of buyers at present and Brainspace has never really seemed to be a perfect fit for Appgate, or its earlier parent company, Cyxtera…
…if this is another Ediscovery consolidation play who would buy it? One expert in the field told this site, it would likely be: ‘iConect, Logikcull, Everlaw, OpenText, Exterro, Nuix, or Relativity.’…

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Editor Comment:

Rumor-mill articles like this one remind me of the chatter during the HP-Autonomy acquisition. The author does document the requests/responses to Brainspace’s parent companies. It is far too easy to assume fire from smoky standard PR disclaimers or lack of responses. I have heard similar rumors about Exterro and other eDiscovery players more times than I could count. Without someone willing to go on the record it is nothing but conjecture. IF Brainspace is acquired, I hope that it will stay platform agnostic. As good as Relativity’s CAAT integration has gotten, the market needs independent A.I. solutions that provide customers with options. While I could see how Brainspace would benefit the OpenText portfolio, I do not consider any of the other eDiscovery players as real potential buyers.

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