What's Happening?
Epiq, a legal technology and services provider, has announced the sale of its business process outsourcing unit, Epiq Global Business Transformation Solutions (GBTS), to K2 Services. GBTS was responsible
for managing physical and digital mail, office services, and hospitality functions for law firms. This sale marks a significant shift in Epiq's business strategy, as GBTS was one of its three main business lines, alongside legal solutions and claims administration. The decision to sell GBTS reflects Epiq's focus on streamlining its operations and concentrating on its core legal solutions and claims administration services.
Why It's Important?
The sale of GBTS to K2 Services is significant for the legal industry as it may lead to changes in how law firms manage their operational services. By divesting its business process outsourcing unit, Epiq can focus more on its legal solutions, potentially enhancing its offerings in this area. For K2 Services, acquiring GBTS could expand its footprint in the legal industry, providing more comprehensive managed services to law firms. This transaction may also influence other legal service providers to reevaluate their business models and consider similar strategic moves.
