ST. PETERSBURG, Fla., May 2, 2005-First Advantage Corporation (NASDAQ: FADV), a leading United States-based risk mitigation and business solutions provider, today announced that it has acquired Quest Research Ltd., the premier provider of employment screening services in India and East Asia. This strategic addition of Quest Research bolsters the international employment screening operations of First Advantage, situating First Advantage to more effectively service multinational corporations’ demands for these services.
During the past two years, First Advantage has explored various strategic growth opportunities globally that would provide the company with a competitive advantage in serving multinational corporations. Growing market demand for international screening, coupled with First Advantage’s early successes with operations in Bangalore, India, encouraged management to focus on Asia-based screening services.
Headquartered in Mumbai, India, Quest Research currently provides comprehensive screening programs for more than 200 companies with presence in India and East Asia, including multinational corporations in the financial services, technology, and business process outsourcing (BPO) industries. The company also provides international services for other employment screening firms in the United States and Europe. With additional offices in New Delhi, Bangalore and Chennai, India; Beijing; Hong Kong; Singapore; and Perth, Australia, Quest Research has nearly 400 employees and the infrastructure to deliver its global screening offering, which includes education, qualifications and employment verification, as well as public records searches.
“Although literally a world apart, Quest Research and First Advantage have very complementary objectives and resources that make this acquisition beneficial for both companies, our employees and respective clients,” said John Long, chief executive officer of First Advantage Corporation.
“The addition of Quest’s substantive infrastructure and expertise in the international marketplace, along with First Advantage’s recent investment in fingerprinting biometrics, sets First Advantage significantly ahead in the screening industry,” Long said. “Today, we have redefined First Advantage-positioning ourselves as a truly unique, insightful and resourceful industry leader.”
“We are excited to have First Advantage’s resources to continue our expansion in the Asian marketplace,” said Yogesh Bhura, general manager of India operations for Quest Research. “As employment screening becomes more commonplace in the Indian and East Asian workplace, the growth opportunities for First Advantage are significant.”
“Our success in the past five years is evidence of the market potential that Quest Research can tap for First Advantage,” said John Baxter, general manager of East Asia operations for Quest Research. “We are looking forward to integrating Quest’s expertise and operations with First Advantage’s technology to offer our clients comprehensive employment screening solutions worldwide.”
First Advantage anticipates that all Quest Research locations will remain in operation as First Advantage provides additional investment to expand the infrastructure and scope of its newly acquired international employment screening operations.
As part of First Advantage, Quest Research will change its name to First Advantage Quest Research and will report to Bart Valdez, president of the Employment Screening Services division of First Advantage.