First Advantage Acquires Form I-9 Compliance

Rhea-AI Summary

First Advantage Corporation (NASDAQ: FA) has acquired the Form I-9 Compliance business effective January 1, 2022. This acquisition enhances First Advantage’s offerings, introducing products such as electronic Form I-9, E-Verify, remote verifications, and continuous compliance monitoring. CEO Scott Staples expressed enthusiasm for the acquisition, highlighting its strategic importance in delivering essential compliance solutions to customers. The integration aims to streamline onboarding processes and improve compliance management for clients.

Positive

• Acquisition of Form I-9 Compliance enhances First Advantage’s product suite.
• New offerings include electronic Form I-9 and E-Verify solutions.
• Strengthens compliance and onboarding capabilities for existing and new customers.

Negative

• None.

Acquisition brings comprehensive Form I-9, E-Verify and continuous compliance monitoring products and solutions to First Advantage customers in the United States

ATLANTA, Jan. 11, 2022 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, today announced that it has completed the acquisition of the Form I-9 Compliance business pursuant to an asset purchase agreement. The transaction is effective as of January 1, 2022. Form I-9 Compliance adds new solutions to First Advantage’s product suite including comprehensive electronic Form I-9, E-Verify, remote verifications, continuous compliance monitoring and document review offerings.

“We are excited to acquire Form I-9 Compliance, as we are impressed by their comprehensive Form I-9 and E-Verify products,” said Scott Staples, Chief Executive Officer of First Advantage. “This strategic acquisition now enables First Advantage to seamlessly deliver these mission critical solutions as part of our compliance and onboarding products to our existing and new customers in the United States. We look forward to welcoming the Form I-9 Compliance team to the First Advantage family.”

About Form I-9 Compliance

Form I-9 Compliance provides clients with cutting edge, proactive and preventative technology solutions and consulting services for Form I-9 and E-Verify compliance. The company’s professional executive team is uniquely positioned to assist clients in maximizing the benefits and cost savings inherent with electronic Form I-9 processing, automated right to work verifications (E-Verify), secure online storage, consulting services and a paperless process. For additional information on Form I-9 Compliance, please visit the company’s website at https://www.formi9.com/.

About First Advantage

First Advantage Corporation (NASDAQ: FA) is a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital. The Company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology platform, First Advantage’s products and solutions help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its more than 30,000 customers. For more information about First Advantage, visit the Company’s website at https://fadv.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify, including those described under the “Risk Factors” section in our prospectus, dated November 10, 2021, filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(4) of the Securities Act of 1933, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.

Contacts

Investors:
Stephanie D. Gorman
Vice President, Investor Relations
Stephanie.Gorman@fadv.com
(888) 314-9761

Media:
Elisabeth Warrick
Senior Brand Communications Manager
Elisabeth.Warrick@fadv.com
(888) 314-9761

FAQ

What did First Advantage acquire in January 2022?

First Advantage acquired the Form I-9 Compliance business to enhance its product offerings.

How will the acquisition of Form I-9 Compliance impact First Advantage?

The acquisition will improve compliance and onboarding solutions, providing new products like electronic Form I-9 and E-Verify.

What is the effective date of First Advantage's acquisition of Form I-9 Compliance?

The acquisition became effective on January 1, 2022.

What solutions does Form I-9 Compliance provide?

Form I-9 Compliance offers technology solutions for Form I-9 and E-Verify compliance, including document review and continuous monitoring.