First Advantage Corporation Acquires U.D. Registry, Inc
ST. PETERSBURG, Fla., April 5, 2004 - First Advantage Corporation (NASDAQ: FADV), a global risk management solutions provider, today announced its largest acquisition to date of Los Angeles-based U.D. Registry, Inc., one of the top five national providers of resident screening services. The addition of U.D. Registry's (UDR) client base and proprietary landlord-tenant data provides First Advantage with additional depth and enhanced resources in the Western United States - as well as adds to the company's market-leading position in resident screening.
Founded in 1977, UDR serves thousands of multifamily property owners and managers across the United States with an array of screening products designed to provide information for the risk assessment and selection of quality tenants. Its services and operations are highly complementary to First Advantage’s subsidiary, Registry-SafeRent, and the addition will deliver significant volume to First Advantage’s Enterprise Screening segment operations.
“The purchase of UDR is strategically significant in that it further solidifies First Advantage’s long-term leadership in resident screening for the multifamily housing industry,” said Akshaya Mehta, First Advantage’s chief operating officer and executive vice president. “As we welcome UDR in the fold and continue integrating related subsidiaries in our Enterprise Screening segment, we’re strengthening our services in multifamily housing with our ability to offer the most comprehensive solutions available anywhere.”
“UDR is excited to be part of this dynamic, growing company,” said Harvey Saltz, chief executive officer and founder of U.D. Registry. “The combination of our data, talent and technology furthers First Advantage’s number-one position in resident screening and gives our clients access to the most innovative and most complete set of tools for screening and risk management.”
First Advantage’s Enterprise Screening segment serves more than 25,000 properties representing over 5 million apartment homes nationwide. By offering the most comprehensive leasing-decision service to the multifamily housing industry, First Advantage resident screening services help property managers and owners manage their leasing operations more easily, confidently and profitably.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) 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, First Advantage is a leading provider of employment background screening, drug-free workplace programs, physical exams and other occupational health testing, resident screening, motor vehicle records, insurance fraud investigations, supply chain security and consumer location services. First Advantage ranks among the top three companies in all of its business lines. First Advantage is headquartered in St. Petersburg, Fla., and has nearly 1,500 employees in offices throughout the United States and abroad. Further information about the company is available at www.FADV.com.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889. First American is the nation’s largest data provider, supplying businesses and consumers with information resources in connection with the major economic events of people’s lives. Additional information about the First American Family of Companies can be found at www.firstam.com.
Certain statements made in this press release, including those relating to volume, are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company's Class A common stock; the company’s ability to successfully raise capital; the company’s ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company’s competition; increases in the company’s expenses; continued consolidation among the company’s competitors and customers; unanticipated technological changes and requirements; and the company's ability to identify suppliers of quality and cost-effective data. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
First Advantage Corporation (NASDAQ: FADV) 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, First Advantage is a leading provider of employment background screening, drug-free workplace programs, physical exams and other occupational health testing, resident screening, motor vehicle records, insurance fraud investigations, supply chain security and consumer location services. First Advantage ranks among the top three companies in all of its business lines. First Advantage is headquartered in St. Petersburg, Fla., and has nearly 1,500 employees in offices throughout the United States and abroad. Further information about the company is available at www.FADV.com.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889. First American is the nation’s largest data provider, supplying businesses and consumers with information resources in connection with the major economic events of people’s lives. Additional information about the First American Family of Companies can be found at www.firstam.com.
Certain statements made in this press release, including those relating to volume, are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company's Class A common stock; the company’s ability to successfully raise capital; the company’s ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company’s competition; increases in the company’s expenses; continued consolidation among the company’s competitors and customers; unanticipated technological changes and requirements; and the company's ability to identify suppliers of quality and cost-effective data. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR MORE INFORMATION CONTACT:
John Lamson
Chief Financial Officer and Executive Vice President
727.214.3411, ext. 214
jlamson@fadv.com
Renee Svec
Director - Corporate Communications
727.214.3411, ext. 212
rsvec@fadv.com