Pivotal Acquisition to buy KLDiscovery

Pivotal Acquisition Corp, a blank check company, said May 20 that it agreed to buy KLDiscovery. The Wall Street Journal valued the deal at $344.5 million. KLDiscovery, an electronic discovery and data recovery services provider, is backed by Carlyle Group and Revolution Growth. Carlyle and Revolution will retain and roll over their shares, which are subject to a lockup period alongside Pivotal founders.