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Hong Kong - February 20, 2008 - Hill & Associates (H&A), Asia's largest risk management & business intelligence consultancy firm announced today that it has concluded the sale of its 75% share of the pre-employment screening business, VerifyTM Screening Solutions (VerifyTM) to First Advantage Corporation (FADV). H&A has not disclosed its share of the proceeds but Richard Hickson, CEO of H&A commented that the amount was "fair and reflected appropriately our valuation of the VerifyTM business." H&A's joint venture partner in VerifyTM, Quam Data Services Limited, an indirect wholly owned subsidiary of Quam Limited disposed of the remaining 25% share of VerifyTM to FADV on the same terms and conditions as H&A.
Richard Hickson further said: "This transaction marks an important stage in the development of Hill & Associates and in the implementation of our strategy to build on our leading position in the Asian risk mitigation market. The disposal of Verify will allow us to put more focus, both financially and organizationally, on our core consulting activities and allow us to accelerate the development of our six key service lines:
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Risk Intelligence |
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Protective Security |
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Risk Management |
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Brand Protection |
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Transaction Services |
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Forensic Services" |
About Hill & Associates With 18 offices around the world, Hill & Associates has become one of the world's leading risk mitigation & business intelligence consultancy firms while maintaining a uniquely Asian focus. We are headquartered in Hong Kong & Singapore and have a comprehensive network of wholly owned subsidiaries with over 300 permanent staff.
By combining the expertise of our world-class professionals with our deep local knowledge, we are able to assist our clients in operating safely, efficiently and without disruption in some of the world?s most difficult markets. We address a wide range of business risks and develop comprehensive solutions for both prevention and incident response.
For more information on Hill & Associates, please visit its website at:
http://www.hill-assoc.com.
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