ABS Portfolio Company RenewData Names Jim Blayney CEO and Adds ABS Repeat Entrepreneur and Software Veteran Dean Goodermote to the Board

AUSTIN, TX – April 26, 2011 – RenewData®, a leading provider of eDiscovery, archiving and review-acceleration solutions, today announced that Jim Blayney has joined the Company on a full-time basis as Chief Executive Officer and that Dean Goodermote will join the Company’s Board of Directors.  Blayney has served on RenewData’s Board of Directors since 2006, and will remain on the Board as Chairman.  He joins the Company’s existing executive team including the President, Rich Cohen, Chief Operating Officer, Ed McCracken, Chief Financial Officer, Scott Schaefer, Chief Scientist, Andy Kraftsow, and Director of Human Resources, Lisa Novak.  Goodermote will be an independent director.

Blayney comes to RenewData after six years with SOURCECORP, serving as President of Rust Consulting and ERS Group and then Division President of SOURCECORP’s Legal and Consulting Division. He brings more than 30 years of diverse management experience in business services firms — with particular expertise in the areas of strategy development and implementation, as well as sales and marketing and financial management.  As a Board Member at RenewData, Blayney led the Company’s strategic planning process, which resulted in the purchase and development of assets that helped expand its markets served and enhanced the technology portfolio.

“The future at RenewData is brighter than ever. The Company increased profitability five-fold last year and is one of a very few companies in the eDiscovery market with both a strong financial track record and highly differentiated intellectual property to build on, and I really wanted to play a more active role in helping it to seize its opportunity,” said Blayney.  “With an explosion of data, shorter timeframes to respond to discovery requests, and shrinking budgets, our clients are looking to us for more innovative solutions.”

Goodermote has spent most of his adult life either growing or starting software companies. He has taken two of his companies through the Initial Public Offering process on NASDAQ and three others have produced successful mergers. Companies Goodermote has led have received numerous awards, including Business Week’s Top 100 Growth Companies, Fortune Magazine’s Top 200 Small Companies, CIO Magazine’s Top 100, Deloitte and Touche’s Technology Fast 500 and New England Fast Fifty, the Boston Globe’s Top Ten, and the INC 500. Until recently he was the chairman, and CEO of Double-Take Software, a leading publicly traded infrastructure software company that was acquired by Vision Solutions.

“I am excited by the number of unique and viable products RenewData has in development and the potential to help the Company bring them to market,” said Goodermote “I also see their solutions being applicable to several other verticals that are dealing with the high cost of unstructured data.”

Two of RenewData’s newest and most innovative technologies are Vestigate and Anagram, which have dramatically changed the way legal professionals manage, find, and share electronic data.  The Company will continue to expand its product offerings based on these technologies — both within and outside the legal vertical.

RenewData has been a trusted provider of services for the discovery, archiving, and review of electronically stored information (ESI) since 2001. Since inception, it has consistently invested resources to enhance its delivery of client solutions, receiving several industry recognitions for excellence.  In 2009, RenewData acquired the Vestigate technology from Digital Mandate, which was the first of several steps to transform the technology capabilities of the company.  Since that time, the company has filed several patents for both Vestigate and its Anagram keyword development service, which are receiving many accolades from the legal and business community.  RenewData also recently received the prestigious ISO 27001 certification on information security management systems.

“We are all very enthusiastic about the solutions that RenewData is delivering to clients, and to supplement our team with accomplished executives like Jim and Dean,” said Cohen.  “Adding their experience with high-growth organizations will allow us to bring more innovative offerings into the market even sooner.

Before joining SOURCECORP, Blayney was the senior vice president of business services for RSM McGladrey, Inc. and McGladrey and Pullen, LLP, the fifth-largest CPA and business services firm in the country.  There he was responsible for the consulting practices, investment banking, retirement plan administration and wealth management practices for the entire firm. Blayney holds a Bachelor of Arts degree in Economics from Central College, a Master of Science in Accounting from the University of Wisconsin, and was a Certified Public Accountant.