First Advantage Corporation Announces Acquisition of Agency Records, Inc.
ST. PETERSBURG, Fla., Nov. 4, 2003 -- First Advantage Corporation , a global risk management solutions provider, today announced the acquisition of Agency Records, Inc., a Hartford, Conn.-based provider of motor vehicle record (MVR) services. The acquisition further strengthens First Advantage's Motor Vehicle Record Services division with a physical Northeast presence and increased market share beyond that of its divisional subsidiary, American Driving Records (ADR), based in Sacramento, Calif.
Similar to First Advantage's industry leading MVR operation, Agency Records provides MVR data to insurance underwriters, automobile insurance agents, employers and employment screening companies to assist in applicant evaluation for insurance and employment. Agency Records, like ADR, obtains this data by accessing state Departments of Motor Vehicles for the most current records available.
"Motor vehicle records provide critical information to support decisions made in underwriting offices, insurance agencies and human resource departments across the nation," said Paul Areida, president of First Advantage's Motor Vehicle Record Services division. "Gaining the complementary resources of such a respected and long-established provider as Agency Records enhances our ability to deliver this crucial information to our combined clientele. We are excited with this opportunity and look forward to putting our strength to work for our clients and to growing this division of First Advantage."
"We have spent the last 30 years enhancing Agency Records' operations to meet the changing needs of our clients," said Gregory Pollock, president and owner of Agency Records. "It is exciting to join First Advantage and to have the opportunity to offer our clients additional services and leading-edge technology, including ADR's ZapApp(R) Web tool." Pollock will join First Advantage as regional director of sales.
First Advantage's Motor Vehicle Record Services division provides insurance agents, carriers, employers and employment screening companies with millions of current motor vehicle record reports annually. ADR's ZapApp Web- driven software facilitates the transfer of data with these users by speeding the exchange, improving data quality and preventing fraud.
About First Advantage Corporation
First Advantage Corporation provides best-in-class single- source solutions for global risk mitigation and enterprise and consumer screening needs, incorporating state-of-the-art technology, proprietary systems and data resources. Created by the merger of The First American Corporation's Screening Technologies division with US SEARCH.com, First Advantage is a leading national provider, ranking among the top three companies in nearly all of its business lines. The company offers multiple products and services including employment background screening, drug-free workplace programs, physical exams and other occupational health testing, resident screening, motor vehicle records, insurance fraud investigations and consumer location. Headquartered in St. Petersburg, Fla., with offices in Los Angeles, San Diego, Concord and Sacramento, Calif.; Milwaukee; Bethesda and Rockville, Md.; Denver; New York; Winston-Salem, N.C.; and Bangalore, India, the company has more than 1,200 employees. Further information about the company is available at www.FADV.com.
For further information, please contact John Lamson, Chief Financial Officer and Executive Vice President, +1-727-214-3411, ext. 214, jlamson@fadv.com, or Renee Svec, Director - Corporate Communications, +1-727-214-3411, ext. 212, rsvec@fadv.com, both of First Advantage Corporation.