The FRCP and the Sub-Prime Meltdown

Autonomy, which purchased ZANTAZ for $375 million last year, has just won a $70 million archiving contract with a bank. The deal, which is far bigger than any Autonomy had previously won, seems to be driven primarily by the new amendments to the Federal Rules of Civil Procedure (FRCP) that took effect on December 1, 2006. Some speculate that banks will be a key market for archiving technology directly as a result of the meltdown of the sub-prime market -- many lawsuits will be launched against banks and archiving appears to be a key technology to which banks are looking as they anticipate a wave of litigation resulting from the credit crunch.

More detail is available at http://business.timesonline.co.uk/tol/business/markets/article3129335.ece