KLDiscovery Inc. completed the acquisition of Cenza Technologies Private Limited for $4.3 million.
November 19, 2023
Share
KLDiscovery Inc. (OTCPK:KLDI) signed a definitive agreement to acquire Cenza Technologies Private Limited on September 22, 2023. The acquisition is expected to close in October 2023, subject to the satisfaction of customary closing conditions. Kenyon Group, LLC and Panya Capital Advisors Pvt Ltd acted as financial advisor to Cenza Technologies Private Limited.
KLDiscovery Inc. (OTCPK:KLDI) completed the acquisition of Cenza Technologies Private Limited for $4.3 million on November 20, 2023. The consideration for this acquisition comprised an initial cash payment of $3 million, and deferred contingent consideration of $1.3 million. The contingent consideration, a two-year liability, is contingent upon Cenza meeting specific revenue targets at the end of each year. The earnout, if achieved in a given year, will be paid in the amount of $0.65 million, distributed at the end of the corresponding year in which the target is achieved. If the initial target is not achieved at the end of the first year, but the full target is achieved at the end of the second year, the full $1.3 million million will be distributed at such time.
KLDiscovery, Inc. is a global provider of eDiscovery, information governance and data recovery solutions to corporations, law firms, insurance companies and individuals in 17 countries around the world. The Company operates in one business segment, providing technology-based litigation support solutions and services. It provides a suite of technology offerings, including its end-to-end fully integrated solution, Nebula, which comprehensively addresses information governance, eDiscovery, and data recovery needs. It has developed an entire suite of proprietary technology solutions that creates a bespoke and enhanced experience within the platform. Its integrated, proprietary technology solutions enable clients to collect, process, transmit, review, and recover complex and large-scale enterprise data. The Companyâs proprietary platform Nebula addresses virtually all potential eDiscovery and information governance use cases for the global legal and corporate communities.