Message #28 From:
NewsBot Date: January 10, 2007 05:00:00 AM
GLOI News GlobalOptions Group Announces the Acquisition of On Line Consulting Services
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 privately held On Line Consulting Services for $2.7 million,
consisting of $1.35 million of cash, $1.35 million of common stock, and
the assumption of certain liabilities.
Established in 1984, On Line Consulting is a national security and
safety consulting and management services company led by their founder,
Sandy Zirulnik. Headquartered in Oakland, CA, the company focuses on
security, fire alarm, and communication system strategies for a broad
range of public and private sector clients. On Line Consulting had
approximately $3.0 million in revenue in 2006.
“The acquisition of On Line Consulting will
complement and enhance services we offer through our SafirRosetti
business unit, which is a leader in security and safety management and
consulting services,” said Dr. Harvey W.
Schiller, CEO and Chairman of GlobalOptions Group. “It
expands our ability to offer comprehensive services to a growing roster
of clients across the country. We are pleased to add industry leader
Sandy Zirulnik and his team to GlobalOptions Group.”
On Line Consulting is led by founder and President Sandy Zirulnik, who
stated, “After developing our capabilities
through extensive technical experience and excellent client results, we’re
pleased to join forces with GlobalOptions Group, which is swiftly
becoming the national standard for excellence and depth of services in
the risk management and security field.” Mr.
Zirulnik is assuming the position of Senior Managing Director in the
SafirRosetti business unit and will remain actively involved in service
delivery and company development.
About On Line Consulting Services
On Line Consulting Services provides innovative security, fire alarm,
and communication system consulting, design and management services that
define industry best-practices. On Line Consulting delivers a full
spectrum of security and fire consulting services throughout the U.S.
The company’s clients include top
corporations, architectural and engineering firms, developers, property
management companies, and design/build contractors. On Line Consulting’s
team has successfully managed over two thousand projects in various
sectors, including commercial, laboratory and research, government,
healthcare, industrial, public safety and justice facilities.
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. 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.
