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IBM Acquires PSS Systems

Did you know that fewer than 25% of organizations are able to dispose of data properly because they lack the necessary legal hold management practices and effective record retention programs?  That sobering statistic came from a recent study by the Compliance, Governance and Oversight Council, which also found that costs associated with legal electronic discovery average more than $3 million per case and that about 70% of information is often needlessly retained.

To better help companies coordinate and enforce legal retention policy decisions for effective information disposal, IBM announced yesterday the acquisition of PSS Systems.  PSS Systems' solutions for mitigating legal risk and lowering retention costs will be integrated with IBM's Information Lifecycle Governance solutions.

From the press release (IBM Acquires PSS Systems):

"IBM has been providing customers with solutions that enable them to reduce risks and costs by collecting, archiving, managing and analyzing enterprise content, emails and records," said Ron Ercanbrack, vice president of enterprise content management at IBM. "With the acquisition of PSS Systems, we are able to expand our portfolio with a broader set of legal solutions that for the first time link corporate legal hold policies to the reality of how information is managed and disposed of."

PSS Systems clients include seven of the top 10 Fortune 500 companies and organizations spanning a wide variety of industries worldwide including financial services, pharmaceutical, petro-chemical, healthcare and energy. Companies such as Abbott, BASF, BP, ConocoPhillips, Devon Energy, First Data, GE, Pfizer and Williams use PSS Systems software solutions.


Press Release:  IBM Acquires PSS Systems