Friday, December 20, 2019 NEW YORK and MCLEAN, Va.- December 20, 2019 — Pivotal Acquisition Corp. (“Pivotal” or the “Company”) a public investment vehicle, and KLDiscovery (“KLD”), a leading global provider of electronic discovery, information governance and data recovery services, announced today the closing of their previously announced merger and the issuance of $200 million in convertible debentures. In connection with the consummation of the merger, the combined company was renamed KLDiscovery Inc. About KLDiscoveryKLDiscovery provides technology-enabled services and software to help law firms, corporations, government agencies and consumers solve complex data challenges. The company, with offices in 40+ locations across 20 countries, is a global leader in delivering best-in-class eDiscovery, information governance and data recovery solutions to support the litigation, regulatory compliance, internal investigation and data recovery and management needs of our clients. Serving clients for over 30 years, KLDiscovery offers data collection and forensic investigation, early case assessment, electronic discovery and data processing, application software and data hosting for web-based document reviews, and managed document review services. In addition, through its global Ontrack Data Recovery business, KLDiscovery delivers world-class data recovery, email extraction and restoration, data destruction and tape management. KLDiscovery has been recognized as one of the fastest growing companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte (Deloitte’s Technology Fast 500) and CEO Chris Weiler was recognized as a 2014 Ernst & Young Entrepreneur of the Year™. Additionally, KLDiscovery is a Relativity Certified Partner and maintains ISO/IEC 27001 Certified data centers around the world. For more information, please email or visit www.kldiscovery.com. About Pivotal Acquisition Corp.Pivotal Acquisition Corp., a public investment vehicle, is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Pivotal’s securities were quoted on the New York Stock Exchange under the ticker symbols PVT, PVT WS and PVT.U. For more information, visit www.pivotalac.com. Forward Looking StatementsThis press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding KLD’s future financial and business performance, attractiveness of KLD’s product offerings and platform and the value proposition of KLD’s products, are forward-looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside KLD’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to recognize the anticipated benefits of the business combination; costs related to the business combination; KLD’s ability to execute on its plans to develop and market new products and the timing of these development programs; KLD’s estimates of the size of the markets for its solutions; the rate and degree of market acceptance of KLD’s solutions; the success of other competing technologies that may become available; KLD’s ability to identify and integrate acquisitions; the performance and security of KLD’s services; potential litigation involving Pivotal or KLD; and general economic and market conditions impacting demand for KLD’s services. Neither Pivotal nor KLD undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. ContactsInvestors Richard Simonelli 973-896-8184
Click here for a PDF version of this press release. Pivotal Acquisition Corp Announces Acquisitions by KLDiscovery
New York, NY and McLean, VA, July 29, 2019 – Pivotal Acquisition Corp (NYSE: PVT) (“Pivotal”), a public investment vehicle, and KLDiscovery (“KLD”), a leading global provider of electronic discovery, information governance and data recovery services, today announced that KLD has acquired New York-based Strategic Legal Solutions (SLS) and Richmond, Virginia-based Compiled. Financial terms of the acquisitions were not disclosed. The acquisitions reflect KLD’s capital allocation framework and demonstrate its commitment to driving long-term revenue growth by identifying entrepreneur-led acquisition targets that enhance its global footprint, technology capabilities and client base. SLS and Compiled are expected to be fully integrated by the fourth quarter of 2019, enabling substantial cost savings once fully on-boarded. The acquisitions will be accretive to 2019 earnings and are projected to add $12 million of revenue in 2020. “These transactions represent significant milestones for our company as we grow our business and expand our Information Governance and eDiscovery software offerings,” said Chris Weiler, CEO of KLD. “Strategic Legal Solutions’ robust client base will now have access to KLD’s extensive platform and Compiled’s ReadySuite offering will provide additional flexibility in how we address the industry’s unique data management needs. Together, these acquisitions broaden our customer base with the addition of key client relationships, strengthen our end-to-end technology platform and provide significant revenue opportunities for the future.” “As we move towards the closing of the merger between KLD and Pivotal, we are excited to see Chris and his team identify and execute accretive tuck-in acquisitions that will drive long term value creation for all shareholders,” said Jonathan Ledecky, Chairman and CEO of Pivotal. “A disciplined M&A strategy is a core tenet to our investment thesis and an important driver of growth for KLD. We look forward to building on this momentum and continuing to execute on KLD’s M&A strategy.” Strategic Legal Solutions offers eDiscovery and managed document review services primarily in New York and Michigan. The addition of a managed document review facility in Detroit, Michigan will bring KLD’s managed document review capabilities to 13 locations across six countries. Jay Horowitz, the CEO and founder of SLS and a 23-year industry veteran, will join KLD as Senior Vice President, Global Solutions Strategy and will continue to manage SLS’ key relationships with AmLaw 100 law firms and Fortune 100/500 corporations. “This is an exciting chapter for us as we join the KLD family,” said Mr. Horowitz. “Our clients, which include some of the largest corporations in the world, will soon benefit from KLDiscovery’s advanced technology, global footprint and ‘white glove’ customer service.” Compiled provides its self-service and subscription-based flagship offering, ReadySuite, which assists law firms, service providers, consultants and corporations handle discovery documents in their eDiscovery workflow. ReadySuite will continue to be sold as a stand-alone service offering and will be integrated into Nebula, KLD’s proprietary e-discovery platform. Compiled CEO Justin Blessing will join KLD as Director of Engineering. “Integrating ReadySuite’s unique tool set will further expand the capabilities of KLD’s best-in-class Nebula platform – a win for our global customer base,” said Mr. Blessing. Additional Information and Where to Find It Participants in the Solicitation No Offer or Solicitation About Compiled About Strategic Legal Solutions About KLDiscovery About Pivotal Acquisition Corp. Forward Looking Statements Investor Relations Contacts Marc P. Griffin 646-277-1290
Michael Bowen 203-682-8299
Media Contact Krystina Jones 888.811.3789
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