Epiq Systems will pay $134 million for Iris Data Services in a combination of two Kansas City-area companies that provide technology products and services for the legal industry.
Epiq, which is based in Kansas City, Kan., has been under pressure to boost shareholder value. In Olathe, Kan.-based Iris, Epiq acquires a fast-growing company that focuses on providing clients with managed electronic services for the legal discovery process.
Founded in 2007, Iris has 200 employees, including 120 in the Kansas City area. Epiq employs 1,100 people overall and about 275 in the metro area.
Epiq said last year that it was exploring options, including going private or recapitalizing, aimed at increasing shareholder value.