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PSS Systems Secures $18 Million in Financing
Date:6/16/2008

rs including Citi, Credit Suisse, and Travelers."

"The ability to effectively manage your entire records system and necessary legal holds acting on those records is essential in today's legal environment. Doing this reduces legal risk and effectively manages business information assets," states Bruce Whitney, former assistant general counsel and now advisor to Air Products. "PSS Systems is the only company that really understands and effectively addresses this important linkage. Its Atlas product suite is a natural choice for companies -- I'm one of many fans."

PSS Systems, which expects to be profitable this year, has achieved significant customer growth in 2008, adding new customers and industry leaders across the energy, financial services, pharmaceutical, healthcare, and chemical industries worldwide. Existing customers have purchased additional software modules and increased the number of users during this period -- an excellent testimony to the value they receive from the Atlas product family. With the new funds, PSS Systems will increase the number of customer-facing offices in both the U.S. and Europe to expand its customer base and sustain its well-regarded service quality.

"The Atlas Suite, which is designed to enable corporations to implement and automate legally defensible retention and legal holds operations, has achieved significant customer uptake and enjoys real customer loyalty," said Vivian Tero, Program Manager, Compliance Infrastructure Service, IDC.

The Atlas software suite reduces legal risk and cost by providing a comprehensive and coherent solution for legal holds, discovery, and retention policy management. In order to comply, companies need to know what the laws are and how they apply to them, as well as develop procedures to ensure continuous compliance. The Atlas suite enables companies to implement corporate governance policies while complying with disparate country laws with greater precision and control. "In
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SOURCE PSS Systems
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