and HireRight to Merge
USIS, a privately owned company that is a leading provider of
employment/drug testing screening solutions and the largest provider
of security investigations to the federal government, has signed
an agreement to merge with HireRight, Inc. (NasdaqGM: HIRE), a
leading provider of on-demand employment background and drug screening
solutions. The transaction is valued at approximately $195 million.
Under terms of the agreement, which was approved by both companies’
boards of directors, USIS (www.USIS.com)
will pay HireRight stockholders $15.60 per share in cash, which
represents a 54% premium over HireRight’s closing share
price of $10.12 on Friday, June 6, and a 65% premium over the
weighted average trading price of the company’s shares for
the past three months.
Upon completion of the merger, HireRight will be combined with
the USIS Commercial Services Division.
Randy Dobbs, CEO of USIS, said: “The strategic combination
of the two companies is expected to provide customers with a comprehensive
and integrated range of solutions for managing and mitigating
employment-related business risk. Together, USIS and HireRight
will deliver on-demand screening applications built with state-of-the-art
technologies delivering outstanding user experience, quality,
turn-around time, and extensive process and workflow automation.
The combined company will serve over 27,000 customers, ranging
from small businesses to global enterprises.”
Together, USIS and HireRight will offer deep expertise in helping
organizations of all sizes efficiently implement, manage, and
control their employment screening programs. It is expected that
the combined company will have the technology, services portfolio,
financial resources, and subject matter expertise to meet the
complex requirements demanded by leading employers around the
globe. Customers will have access to a wide range of competitively
unique services delivered globally in over 200 countries and territories.
The transaction is subject to several conditions including HireRight
stockholder approval, regulatory approval, and certain other customary
closing conditions, and is expected to close in the third quarter
of this year. The transaction is not subject to any financing
conditions. Certain HireRight stockholders have agreed to vote
to approve the transaction, subject to certain terms and conditions
contained in the voting agreement. Prior to the anticipated closing,
the two companies will continue to operate independently.
For more information contact Michael John, Vice President, Corporate
Communication, USIS at (703) 637-1694
Are You Ready for Web 3.0?
It is almost
a cliché in today’s fast moving world to say that
the Internet is changing the way we work and is having a profound
impact on how businesses connect with other businesses to form
alliances or to sell or buy services. Most of you I am sure are
aware of many of the Web 2.0 services and some of you are actually
implementing these. Well as one of my favorites bosses use to
say “In life you are either moving forward or falling behind.
Standing still is not option.” There is no middle ground.
To this end, are you ready for Web 3.0? Don’t panic, its’
new to all of us or perhaps I should say to most of us. However,
this is the time to start getting familiar with what is the next
rev of the web and to start to think about how your business can
capitalize on this technology to forge ahead of your competition.
I found the
following article both intriguing and scary (I had to read some
of the passages several times to be sure I really understood.)
To quote Mikhail Gorbachev, “The future is not what it use
to be,” and the tools, the technology and the wherewithal
to get there will require us to once again stretch our imaginations
and fortitude to succeed.
is an excerpt from the article ‘The Semantic Web: Understanding
Web 3.0 and Preparing Your Business.’ I strongly encourage
you to read this thought provoking article.
can be done today and how do we prepare for tomorrow? Here are
with the right people. With technology like ZoomInfo, you might
be able to build a list of executives who meet the specific industry
and technology background that fit your profile. That hasn’t
been possible before. Available Today.
2. Make industry
data available for public inquiry. The benefit is the association
of your brand as the source of helpful information. Available
semantic search engines by defining your commercial space to ontology
engines like WordNet from Princeton University (WordNet.Princeton.edu).
landing pages to welcome visitors who represent market segments
most likely to visit your website. Detect visitors that match
those specific market segments when they arrive and display the
corresponding landing page. Available Today.
5. When Twine
launches this spring, companies will be able to create “twines”
around commercial topics. This puts them at the heart of conversations
about their commercial space. Available Summer2008.
Here to Read the Full Article
Also if you
are interested in keeping up with the latest on the world wide
web and with web site technology from a business owner or business
development perspective you may want to sign up for Web Site Magazine.
It is complimentary and written in a straightforward, easy to
read and understand manner. It is published in hardcopy.
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