ACCUSTAFF INCORPORATED ACQUIRES LEGAL INFORMATION TECHNOLOGY, INC.; ADDS AN ESTIMATED $10 MILLION TO REVENUES.JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 16, 1997--AccuStaff Incorporated (NYSE NYSE See: New York Stock Exchange :ASI ASI, n See Anxiety Sensitivity Index. ), a national provider of strategic staffing, consulting and outsourcing services, today announced the acquisition of Legal Information Technology, Inc. (LIT), a rapidly growing provider of legal support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , including document imaging and coding, to law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
LIT is a recognized leader in the imaging industry and is an outstanding performer and ground-breaker in the specialized legal service marketplace. In 1994, LIT was ranked number 36 on Inc. magazine's list of the 500 fastest growing companies and this year, its president, Gadi Rosenfeld, who will remain as president of the company, was named an Ernst & Young Entrepreneur of the Year finalist for the company's growth and profit achievements. LIT provides a full array of law department and law firm litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. support services, including document scanning and coding as well as case management software. Its clients include major national and international litigation and intellectual property law firms and the law departments of the country's leading corporations. Commenting on the announcement, AccuStaff Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Derek E. Dewan de·wan n. Any of various government officials in India, especially a regional prime minister. [Hindi d said, "LIT's services division generates a large demand for temporary legal support personnel. Legal temporaries, like other paraprofessionals, have specialized skills, command higher hourly rates and yield larger margins. LIT has been a client of AccuStaff subsidiaries for a number of years. We know LIT, the services they provide and the kind of staffing they need. We have grown and done well together. This combination will provide AccuStaff with valuable access directly to LIT's clients at the highest levels, and afford both companies many opportunities for cross-selling with broader and deeper penetration into existing markets. With LIT, we have acquired a company well established in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Dallas and Los Angeles, with an aggressive growth strategy that coincides with our own long-range plans." Gadi Rosenfeld, president of LIT, commented, "This alliance will permit LIT to expand to meet the nationwide needs of existing and prospective clients while assuring the stable and broadly based source of highly trained paraprofessionals that we need to satisfy our document and management contracts with law firms and corporate legal departments. AccuStaff is the best partner for LIT's continued long-term growth and will afford corporations and law firms additional alternatives to meet their litigation support, records retention and document management needs in the face of more highly regulated and litigious litigious adj. referring to a person who constantly brings or prolongs legal actions, particularly when the legal maneuvers are unnecessary or unfounded. Such persons often enjoy legal battles, controversy, the courtroom, the spotlight, use the courts to punish business environments and increasing compliance costs." AccuStaff Incorporated, headquartered in Jacksonville, Florida, is a national provider of strategic staffing, consulting, and outsourcing services to businesses, professional and service organizations, and governmental agencies through a branch office network that includes franchised and associated offices. AccuStaff now has over 750 offices in 44 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . This press release may contain certain forward-looking statements which involve risks and uncertainties. The Company's actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain of the factors set forth under the "Risk Factors" and elsewhere in the Company's Joint Proxy Statement/Prospectus dated October 8, 1996, and as discussed in the Company's reports of Forms 10-K, 10-Q and 8-K made under the Securities Exchange Act of 1934. CONTACT: AccuStaff Inc., Jacksonville Michael D. Abney or Derek E. Dewan, 904/725-5574 |
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