Message #36 From:
NewsBot Date: March 1, 2007 06:00:00 AM
GLOI News GlobalOptions Group Announces Acquisition of FACTICON
NEW YORK--(BUSINESS WIRE)--GlobalOptions Group, Inc. (OTCBB: GLOI), a leading provider of domestic and international risk management services, today announced that it has acquired FACTICON, Inc. for $2.8 million, consisting of $1.4 million of cash, $1.4 million of stock, and the assumption of certain liabilities.
Established in 1992, FACTICON has become one of the leading investigation and research firms in the United States. The company provides insurance, legal, business and financial solutions for government entities, corporations, and small businesses, with a focus on risk mitigation. FACTICON will expand the existing operations of GlobalOptions’ Fraud & SIU unit, and management will report to GlobalOptions executive Halsey Fischer. In 2006, FACTICON had revenue of $5.5 million.
Dr. Harvey W. Schiller, CEO and Chairman of GlobalOptions Group, stated, “With the acquisition of FACTICON, we significantly strengthen our investigative operations and further enhance GlobalOptions’ position as a premier provider of nationwide surveillance and risk mitigation services. FACTICON is a recognized leader in insurance fraud led by John Bullock and Jim Jensen, who together have over 30 years of investigative experience. We look forward to integrating their capabilities and leveraging their investigative expertise as we become the dominant risk mitigation brand in the industry.”
John Bullock, CEO and co-founder of FACTICON, added, “This transaction is clearly a positive step for FACTICON, as we merge with a growing industry leader. We also foresee significant opportunities for our clients, who will now have access to a greater scope of expertise and services.”
About GlobalOptions Group, Inc.
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. www.globaloptionsgroup.com
About FACTICON Inc.
FACTICON, based in Chadds Ford, Pennsylvania, is committed to servicing the needs of its clients through risk mitigation, thorough investigations, comprehensive due diligence, and professional research. Additional information can be found at http://www.facticon.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 the acquired businesses, projected financial information, and the continued successful implementation of the company’s business strategy.
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.
