Dayton, OH -- March 16, 2004. LexisNexis U.S., a leading provider of legal, news and business information services, said today it has acquired the business of Data.TXT Corporation, developer of Time Matters legal practice management workflow software, Billing Matters time-and-billing software and Time Matters World Server, a multiplatform Web-based product. LexisNexis is a member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK].
The two companies have had a business relationship since January 2001 when LexisNexis became a licensed reseller of the LexisNexis version of Time Matters.
The acquisition of the Data.TXT business reinforces an ongoing commitment by LexisNexis to provide legal, business and other professionals with a portfolio of superior products and services. These time and billing management tools and software bring another critical element to an integrated platform of offerings for LexisNexis customers, including legal research, electronic discovery, electronic filing and court access, client development and practice management.
"The business of law can be much more daunting to attorneys than the toughest clients or legal opponents," said Lou Andreozzi, president and CEO of North American Legal Markets at LexisNexis. "Once again we are expanding our product offerings beyond the traditional legal research services, helping our customers in efficiently and profitably managing their practice. And with Time Matters, Billing Matters and World Server, award winning products well regarded in the market, lawyers can spent more time doing what they like best - serving their clients."
The Data.TXT business is the leading provider of legal practice management software for lawyers in the U.S., based on installed seats. The business has thousands of user sites comprised primarily of small and medium law firms, Fortune 500 legal departments, and sizable governmental organizations such as the US Navy Judge Advocate General. The Data.TXT business has held the number one position in the U.S. legal practice management software market for the last six years, winning Law Office Computing magazine?s Readers? Choice Award and the TechnoLawyer @ Award for Favorite Solution every year since 1998. In 2004, Time Matters was a double winner at the inaugural Law Technology News Awards at LegalTech in New York, winning best in category for case management software for 50 or fewer attorneys and for docketing and calendaring software.
"Time Matters is already the most award-winning, most widely used practice management solution in the legal profession," said Bob Butler, CEO of Data.TXT. "This acquisition will allow us to extend our reach to larger firms, and to intensify our efforts in the corporate and government arena. Based on our successful three year working relationship, we know that adding the high-value content and technological resources of LexisNexis will help make this happen."
Time Matters, Billing Matters and World Server will be managed through the North American Legal Markets business unit of LexisNexis, which includes operating units, LexisNexis CourtLink, LexisNexis Applied Discovery and LexisNexis Martindale-Hubbell.
The business will continue to operate from Cary, North Carolina, with the current management and staff. Financial terms of the deal are not being disclosed.
About LexisNexis
LexisNexis (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based research service, LexisNexis, the company includes some of the world?s most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, Les Editions du Juris-Classeur, Abeledo-Perrot and Orac.
In the United States, LexisNexis Total Research System (www.lexisnexis.com) offers an extensive range of online and print legal and regulatory information products, tools, customized Web applications and critical filing services that help legal professionals reach confident decisions and comply with the law.
About Data.TXT
Since its inception, DATA.TXT has focused exclusively on business and practice management software. The original management and engineering staff that began development in 1989 remains on the team to this day, providing focus and continuity rarely seen in the software industry. Time Matters has won all major Readers' Choice Awards for Practice Management the past six years.
Customers range from legal, accounting, and business firms of one and two professionals, to the Fortune 500 and governmental giants, such as the US Navy Judge Advocate General (JAG) and US Marines Legal Assistance. Time Matters is the most widely used Practice Management software, with licensed users in all 50 US States, plus additional users in Canada, Europe, Australia, and the Pacific Rim.