Background screening provider First Advantage (FADV), a Symphony Technology Group (STG) company, has acquired screening industry competitor Verifications, Inc., according to a press release on the Yahoo! Finance website available at http://finance.yahoo.com/news/first-advantage-acquires-verifications-inc-180000268.html.
The press release states the acquisition closed October 29, 2013, subject to customary closing conditions, and that “First Advantage will add over 4,000 new clients to its over 41,000 current client relationships that process more than 15 million applicants annually” as a result of the acquisition.
According to its website, FADV is a portfolio company of STG, a “strategic private equity firm” with a current portfolio consisting of “12 global companies with combined revenue of approximately $2.5 billion and thousands of employees spread across North America, Europe, and Asia.”
This is not the first acquisition of a screening competitor for FADV in 2013. As reported on the ESR News blog in January 2013, FADV announced that it would acquire the background screening business of LexisNexis Risk Solutions, formerly a division of Reed Elsevier. The deal closed in March 2013.
While the U.S. screening industry is rapidly becoming more global in reach, Concerned CRAs – a group of 200 Consumer Reporting Agencies (CRAs) dedicated to consumer protection – is against the “offshoring” of consumer information used in domestic background checks overseas for processing outside the U.S.
Concerned CRAs believes sending information of U.S. job seekers offshore outside of the United States for processing “places both applicants and employers at risk and should be avoided whenever possible” and that “applicants and employers should be made aware of this practice in advance.”
When performing domestic background screening, a CRA displaying the ‘Concerned CRAs’ seal certifies it does not send data outside the United States or its territories for processing of a background check report and all work is done in the U.S. For more information, visit http://www.concernedcras.com/.
A member of Concerned CRAs, Employment Screening Resources® (ESR) offers a complimentary whitepaper on the subject of “offshoring” titled ‘The Dangers of Offshoring Personally Identifiable Information (PII) Outside of United States’ at http://www.esrcheck.com/Download/.
For more information about “offshoring” and background checks, visit Employment Screening Resources® (ESR) – a background screening firm accredited by the National Association of Professional Background Screeners (NAPBS®) – at http://www.ESRcheck.com or call us Toll Free at 888.999.4474.
About Employment Screening Resources® (ESR):
Founded by safe hiring expert Attorney Les Rosen in 1997, Employment Screening Resources® (ESR) – ‘The Background Check Authority®’– provides accurate and actionable information that empowers employers to make informed hiring decisions for the benefit of their organizations, employees, and the public. CEO Rosen literally wrote the book on background checks with “The Safe Hiring Manual” and ESR is accredited by The National Association of Professional Background Screeners (NAPBS), a distinction held by a small percent of screening firms. Employers choosing ESR know they have selected an agency meeting the highest industry standards. To learn more about ESR, visit http://www.esrcheck.com or call toll free 888.999.4474.
About ESR News: The Employment Screening Resources® (ESR) News blog – ESR News – provides employment screening information for employers, recruiters, and jobseekers on a variety of topics including credit reports, criminal records, data privacy, discrimination, E-Verify, jobs reports, legal updates, negligent hiring, workplace violence, and use of search engines and social network sites for background checks. For more information about ESR News or to send comments or questions, please email ESR News Editor Thomas Ahearn at firstname.lastname@example.org. To subscribe to the ESR News Blog Feed, visit http://www.esrcheck.com/wordpress/feed/. To subscribe to the complimentary ESRcheck Report monthly newsletter, please visit http://www.esrcheck.com/Newsletter/.