ST. PETERSBURG, Fla., Nov. 10, 2005—First Advantage Corporation (NASDAQ: FADV), a global risk mitigation and business solutions provider, today announced the acquisition of The Info Center, a New England regional provider of resident screening services. The acquisition adds incremental scale to First Advantage’s industry leading multifamily services operation, First Advantage SafeRent.
Based in Springfield, Mass., and in business since 1982, The Info Center provides multifamily property owners and managers in New England with screening tools to assess prospective residents and mitigate risk prior to offering residency.
“We are pleased to welcome The Info Center to our company,” said John Long, chief executive officer of First Advantage Corporation. “Their reputation and customer focused services complement those of our current operations, while their client base provides additional scale to further enhance our operating margins.”
“Joining forces with the industry leader presents exciting opportunities to offer our clients a more comprehensive package of multifamily services,” said Marlies Jenney, president of The Info Center. Jenney and The Info Center’s chief operating officer, Paul A. Jenney, will join First Advantage’s divisional management team as the company continues operations as part of First Advantage’s Multifamily Services segment.
As part of First Advantage, The Info Center’s clientele will benefit from nationwide landlord-tenant data, a broader collection of criminal information and the industry-leading applicant scoring model, RegistrySCOREXSM. Such offerings enable even better leasing and property management decisions, leading to lower risks and improved net operating income for The Info Center’s clients.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and subprime markets; business credit information in the transportation industry; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 3,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found 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 in this press release, including those related to enhanced operating margins and income, 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; the company’s ability to identify suppliers of quality and cost-effective data, and other risks identified from time-to-time in the company’s SEC filings. 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. Investors are advised to consult the company’s filings with the SEC, including its 2004 Annual Report on Form 10-K, for a further discussion of these and other risks.
FOR MORE INFORMATION CONTACT:
Renee Svec
Director of Marketing & Communications
727.214.3411, ext. 212
rsvec@FADV.com
Cindy Williams
Investor Relations Manager
727.214.3411, ext. 260
clwilliams@FADV.com