Acquisition provides customers the only solution available to identify, map and understand all organizational data - structured and unstructured - to effectively respond to data governance and legal requirements, including e-discovery, privacy, and enterprise digital forensics and incident response
PORTLAND, Oregon, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Exterro, a leading provider of legal governance, risk and compliance (GRC) software, today announced it has acquired Divebell, a best-in-class data discovery SaaS solution. By combining Divebell's sophisticated data discovery capabilities with Exterro's comprehensive legal GRC platform, including its rich information governance workflows, Exterro further solidifies its position as the only company that can help solve the legal, regulatory, and compliance data challenges facing corporations, government organizations and global enterprises.
With the acquisition, Exterro is poised to revolutionize the way organizations identify, understand and utilize their structured and unstructured data for e-discovery, enterprise digital foresics, data privacy compliance, data security and breach response, as well as emerging AI-related challenges such as AI-related legislation and governance.
"In an era where data-centric regulations are tightening and organizational functions are converging under legal oversight, having an agile, accurate, and all-encompassing platform to automatically identify and contextualize all available corporate data has never been more crucial," said Bobby Balachandran, Founder and CEO of Exterro. "This is particularly important as companies manage legal governance, risk, and compliance obligations amid the rapid adoption of AI technologies. The efficient and effective monitoring of training datasets is imperative to ensure proper data governance and avoid privacy and intellectual property issues. This acquisition gives organizations the tools they need to understand where their data is coming from and ensures reliable and unbiased outcomes."
The acquisition builds off of the historical partnership between Exterro and Divebell to supercharge the incorporation of automated data discovery technology into the broader Exterro platform, addressing many key challenges for e-discovery, privacy, and breach response professionals. Examples of use cases where Exterro customers will benefit from this acquisition include:
- E-Discovery
- Cross Border Discovery: Easily identify data across various jurisdictions and determine where the data is being transferred across borders.
- Search Structured Data: Conduct rapid search of structured databases to locate relevant information during legal cases.
- Data Map for E-Discovery: Streamline the development of a data map that shows the systems and applications in the organization's environment and the data present in them.
- Legal Hold Indicators: Enable automatic detection of data under legal hold, providing critical and timely insights to the information security and data governance teams.
- Privacy
- Compliance with privacy regulations: Enable organizations to automate compliance with complex global privacy laws.
- Data Retention/Record Retention Compliance: Classify records and operationalize retention policies across systems.
- Cybersecurity and Breach Response
- Data Security Posture Management (DSPM): Maintain a baselined, continuous and accurate picture of where your sensitive data is stored and who has access to it and ensure that deviations from that baseline are quickly remediated.
- Breach Response: Gain insights into compromised datasets quickly, such as the sensitivity of the data and the individuals affected.
"In a world where data breaches and privacy issues are on the rise, partnering with Divebell has been one of our most strategic and beneficial decisions, as they have helped us stay updated and compliant with evolving privacy laws," said Shekar Raman, CEO of Birdzi.
Divebell's data discovery engine has been designed from the ground up to apply advanced statistical and machine learning techniques that analyze large volumes of data in a fast, efficient, extensible manner to help companies use AI responsibly. Exterro will immediately begin to incorporate its own responsible AI capabilities into Divebell's data discovery solution, enabling customers to more quickly, inexpensively, and defensibly meet their compliance and legal obligations. Customers will also benefit from a one-of-a-kind unified support infrastructure in which all data discovery and broader legal GRC issues will be routed through Exterro's well-established customer service process.
"The combination of Divebell technology with Exterro's world-class development team and its market-leading AI capabilities will result in faster, more powerful, and more cost-effective solutions to meet regulatory and compliance obligations," said Divebell CEO and co-founder, Vikram Shrowty. "The integration of Divebell with Exterro's established data platform will give customers continuous automatic visibility into their data and the ability to automatically detect, measure, and remediate risk across their data ecosystem. Factoring in our quick time-to-value, this transaction will be transformative for a market in which competitive solutions are either a big lift to operationalize or lack automation or both."
Financial terms of the transaction were not disclosed. For more information about Exterro Data Discovery, visit https://www.exterro.com/privacy-software/data-discovery
About Exterro, Inc.
Exterro empowers legal teams to proactively and defensibly manage their Legal Governance, Risk and Compliance
About Divebell
Divebell's powerful Data Discovery platform provides a robust foundation for operationalizing your data governance, data privacy management and data protection programs at scale. Divebell's lightweight and modern architecture allows customers to rapidly scan petabytes of data to understand the sensitive data footprint, pinpointing risks and then facilitating collaborative workflows to ensure appropriate risk posture. Divebell's platform allows our customers to confidently manage their crucial data assets. For more information, visit www.divebell.com
Press Contact:
Valerie Chan
415. 547.9708
valerie@plat4orm.com
