EX-99.1
3
ex991to8k06282_04212008.htm
ex991to8k06282_04212008.htm
Exhibit 99.1
News
Release
GlobalOptions
Group and First Advantage Corporation Announce a Strategic Business
Alliance
--
GlobalOptions Also Acquires First Advantage's Investigative Unit
--
NEW YORK
& POWAY, Calif.--(BUSINESS WIRE)--April 21, 2008--GlobalOptions Group, Inc.
(NASDAQ: GLOI), a leading provider of domestic and international risk management
services, and First Advantage Corporation (NASDAQ: FADV), a global risk
mitigation and business solutions provider, today announced a new strategic
alliance in which both companies will cross-sell each other's complementary risk
management services. The two companies also announced that GlobalOptions has
acquired the surveillance assets of First Advantage's subsidiary, First
Advantage Investigative Services. The transaction does not include First
Advantage Investigative Services' due diligence operation, which provides
unique, data driven services mainly for hedge fund investors.
Under the
terms of the strategic business alliance, GlobalOptions and First Advantage will
offer their existing and prospective clients a combined portfolio of services.
First Advantage will have the opportunity to offer its clients GlobalOptions
Group's three main areas of service: fraud and SIU investigations, crisis
management and preparedness services and security consulting and investigations.
GlobalOptions will be able to draw upon First Advantage's diverse client base
and comprehensive suite of global talent acquisition solutions.
"We are
pleased to partner with GlobalOptions, which has built an organization that
combines the very best in experience and expertise across the risk management
space", said Anand Nallathambi, president and chief executive officer of First
Advantage Corp. "This strategic alliance will benefit both our companies with an
expanded suite of service solutions and enable us to deliver premier risk
mitigation services to our valued clients".
"First
Advantage offers GlobalOptions access to a greater pool of potential clients, as
well as the opportunity to partner with a company that has an excellent
reputation for innovative client business solutions", said Dr. Harvey Schiller,
chairman and CEO of GlobalOptions. "We are confident each company's services
will provide our clients with the most complete choice of options addressing
virtually any situation that requires business intelligence to round out a risk
mitigation solution".
Both
companies also announced that GlobalOptions has purchased the assets and assumed
selected liabilities of First Advantage Investigative Services, which is based
in St. Petersburg, Fla. The First Advantage unit, which will be a part of
GlobalOptions Fraud and SIU unit, provides complementary services such as
surveillance and investigation services for detecting workers' compensation,
disability and liability insurance fraud. It also provides screening services,
accident-scene investigation, dependency verification and claimant location
services. Its clients include workers' compensation and disability insurance
companies, third-party administrators and self-insured corporations in the
US.
"First
Advantage's expertise in investigative intelligence is a perfect complement to
our Fraud & SIU business", Dr. Schiller said. "This acquisition enables
GlobalOptions to expand its services to its insurance clients who rely on us to
provide assistance in helping them combat fraud. We are excited about the
additional resources we will be able to offer to our clients, while we continue
to provide the same personal service and attention to detail that has made us
successful".
"First
Advantage Investigative Services was established with the hope that
investigative services would prove to be a natural extension to our risk
mitigation services", said Nallathambi. "As our corporate vision matured over
the last five years, we realized that our competencies were more centered around
a data-centric business model. By aligning this unit with GlobalOptions, the
business that we built can continue its industry-leading work while First
Advantage focuses on the core data oriented business services that will carry us
into the future".
Macquarie
Capital (USA) Inc. served as a financial advisor to GlobalOptions in its
acquisition of First Advantage Investigative Services.
First
Advantage Corporation
First
Advantage Corporation (NASDAQ: FADV) combines industry expertise with
information to create products and services that organizations worldwide use to
make smarter business decisions. First Advantage is a leading provider of
consumer credit information in the mortgage, automotive and specialty finance
markets; business credit information in the transportation industry; lead
generation services; motor vehicle record reports; supply chain security
consulting; employment background verifications; occupational health services;
applicant tracking systems; recruiting solutions; skills and behavioral
assessments; business tax consulting services; computer forensics; electronic
discovery; corporate and litigation investigations; data recovery; due diligence
reporting; resident screening; property management software and renters
insurance.
First
Advantage ranks among the top companies in all of its major business lines.
First Advantage is headquartered in Poway, Calif., and has more than 4,700
employees in offices throughout the United States and abroad. More information
about First Advantage can be found at www.FADV.com.
First
Advantage is a majority-owned subsidiary of The First American Corporation
(NYSE: FAF), a FORTUNE 500(R) company that traces its history to 1889. First
American is America's largest provider of business information, supplying
businesses and consumers with valuable information products to support the major
economic events of people's lives. Additional information about the First
American Family of Companies can be found at www.firstam.com.
GlobalOptions
Group
GlobalOptions
Group, with headquarters in New York City and offices in 16 cities, is a
provider of high-end risk assessment and mitigation services to Fortune 1000
corporations, governmental organizations and high-profile individuals throughout
the world. GlobalOptions Group's services currently include risk management and
security, investigations and litigation support, and crisis management. These
engagements take GlobalOptions Group staff around the world and are typically
highly-sensitive engagements where GlobalOptions Group is interacting with
senior leaders in corporations and governments. Its overall mission is to
identify, evaluate, assess, prevent and correct issues that may threaten people,
organizations or strategic initiatives for corporations or governments.
Additional information can be found at www.globaloptionsgroup.com.
Statements
in this press release regarding the company's business that are not historical
facts are "forward-looking statements" that involve risks and uncertainties. The
company wishes to caution readers not to place undue reliance on such
forward-looking statements, which statements are made pursuant to the Private
Securities Litigation Reform Act of 1994, and as such, speak only as of the date
made. To the extent the content of this press release includes forward-looking
statements, they involve various risks and uncertainties including the
successful integration of acquired businesses and revenue run
rates.
Certain
of these risks and uncertainties will be described in greater detail in
GlobalOptions Group's filings with the Securities and Exchange Commission.
GlobalOptions Group is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
CONTACT:
For
GlobalOptions Group:
Lippert/Heilshorn
& Associates
PR
Contact:
Dolores
Naney, 212-838-3777
dnaney@lhai.com
or
IR
Contact:
Jody
Burfening, 212-838-3777
jburfening@lhai.com
or
For
First Advantage Corporation:
Henri
Van Parys, 727-214-1072
Corporate
Communications Manager
henri.vanparys@FADV.com
or
Cindy
Williams, 727-214-3438
Investor
Relations Manager
clwilliams@FADV.com
SOURCE:
GlobalOptions
Group,
Inc.

EX - 99 . 1 3 ex991to8k06282 _ 04212008 . htm ex991to8k06282 _ 04212008 . htm Exhibit 99 . 1 News Release GlobalOptions Group and First Advantage Corporation Announce a Strategic Business Alliance -- GlobalOptions Also Acquires First Advantage 's Investigative Unit -- NEW YORK & POWAY , Calif . -- ( BUSINESS WIRE ) -- April 21 , 2008 -- GlobalOptions Group , Inc . ( NASDAQ : GLOI ) , a leading provider of domestic and international risk management services , and First Advantage Corporation ( NASDAQ : FADV ) , a global risk mitigation and business solutions provider , today announced a new strategic alliance in which both companies will cross - sell each other ' s complementary risk management services . The two companies also announced that GlobalOptions has acquired the surveillance assets of First Advantage 's subsidiary , First Advantage Investigative Services . The transaction does not include First Advantage Investigative Services ' due diligence operation , which provides unique , data driven services mainly for hedge fund investors . Under the terms of the strategic business alliance , GlobalOptions and First Advantage will offer their existing and prospective clients a combined portfolio of services . First Advantage will have the opportunity to offer its clients GlobalOptions Group 's three main areas of service : fraud and SIU investigations , crisis management and preparedness services and security consulting and investigations . GlobalOptions will be able to draw upon First Advantage 's diverse client base and comprehensive suite of global talent acquisition solutions . " We are pleased to partner with GlobalOptions , which has built an organization that combines the very best in experience and expertise across the risk management space " , said Anand Nallathambi , president and chief executive officer of First Advantage Corp . " This strategic alliance will benefit both our companies with an expanded suite of service solutions and enable us to deliver premier risk mitigation services to our valued clients " . " First Advantage offers GlobalOptions access to a greater pool of potential clients , as well as the opportunity to partner with a company that has an excellent reputation for innovative client business solutions " , said Dr . Harvey Schiller , chairman and CEO of GlobalOptions . " We are confident each company 's services will provide our clients with the most complete choice of options addressing virtually any situation that requires business intelligence to round out a risk mitigation solution " . Both companies also announced that GlobalOptions has purchased the assets and assumed selected liabilities of First Advantage Investigative Services , which is based in St . Petersburg , Fla . The First Advantage unit , which will be a part of GlobalOptions Fraud and SIU unit , provides complementary services such as surveillance and investigation services for detecting workers ' compensation , disability and liability insurance fraud . It also provides screening services , accident - scene investigation , dependency verification and claimant location services . Its clients include workers ' compensation and disability insurance companies , third - party administrators and self - insured corporations in the US . " First Advantage 's expertise in investigative intelligence is a perfect complement to our Fraud & SIU business " , Dr . Schiller said . " This acquisition enables GlobalOptions to expand its services to its insurance clients who rely on us to provide assistance in helping them combat fraud . We are excited about the additional resources we will be able to offer to our clients , while we continue to provide the same personal service and attention to detail that has made us successful " . " First Advantage Investigative Services was established with the hope that investigative services would prove to be a natural extension to our risk mitigation services " , said Nallathambi . " As our corporate vision matured over the last five years , we realized that our competencies were more centered around a data - centric business model . By aligning this unit with GlobalOptions , the business that we built can continue its industry - leading work while First Advantage focuses on the core data oriented business services that will carry us into the future " . Macquarie Capital ( USA ) Inc . served as a financial advisor to GlobalOptions in its acquisition of First Advantage Investigative Services . First Advantage Corporation First Advantage Corporation ( NASDAQ : FADV ) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions . First Advantage is a leading provider of consumer credit information in the mortgage , automotive and specialty finance markets ; business credit information in the transportation industry ; lead generation services ; motor vehicle record reports ; supply chain security consulting ; employment background verifications ; occupational health services ; applicant tracking systems ; recruiting solutions ; skills and behavioral assessments ; business tax consulting services ; computer forensics ; electronic discovery ; corporate and litigation investigations ; data recovery ; due diligence reporting ; resident screening ; property management software and renters insurance . First Advantage ranks among the top companies in all of its major business lines . First Advantage is headquartered in Poway , Calif . , and has more than 4,700 employees in offices throughout the United States and abroad . More information about First Advantage can be found at www.FADV.com . First Advantage is a majority - owned subsidiary of The First American Corporation ( NYSE : FAF ) , a FORTUNE 500 ( R ) company that traces its history to 1889 . First American is America 's largest provider of business information , supplying businesses and consumers with valuable information products to support the major economic events of people 's lives . Additional information about the First American Family of Companies can be found at www.firstam.com . GlobalOptions Group GlobalOptions Group , with headquarters in New York City and offices in 16 cities , is a provider of high - end risk assessment and mitigation services to Fortune 1000 corporations , governmental organizations and high - profile individuals throughout the world . GlobalOptions Group 's services currently include risk management and security , investigations and litigation support , and crisis management . These engagements take GlobalOptions Group staff around the world and are typically highly - sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments . Its overall mission is to identify , evaluate , assess , prevent and correct issues that may threaten people , organizations or strategic initiatives for corporations or governments . Additional information can be found at www.globaloptionsgroup.com . Statements in this press release regarding the company 's business that are not historical facts are " forward - looking statements " that involve risks and uncertainties . The company wishes to caution readers not to place undue reliance on such forward - looking statements , which statements are made pursuant to the Private Securities Litigation Reform Act of 1994 , and as such , speak only as of the date made . To the extent the content of this press release includes forward - looking statements , they involve various risks and uncertainties including the successful integration of acquired businesses and revenue run rates . Certain of these risks and uncertainties will be described in greater detail in GlobalOptions Group 's filings with the Securities and Exchange Commission . GlobalOptions Group is under no obligation to ( and expressly disclaims any such obligation to ) update or alter its forward - looking statements whether as a result of new information , future events or otherwise . CONTACT : For GlobalOptions Group : Lippert / Heilshorn & Associates PR Contact : Dolores Naney , 212 - 838 - 3777 dnaney@lhai.com or IR Contact : Jody Burfening , 212 - 838 - 3777 jburfening@lhai.com or For First Advantage Corporation : Henri Van Parys , 727 - 214 - 1072 Corporate Communications Manager henri.vanparys@FADV.com or Cindy Williams , 727 - 214 - 3438 Investor Relations Manager clwilliams@FADV.com SOURCE : GlobalOptions Group , Inc .