POWAY, California, January 3, 2011 /PRNewswire/ --
First Advantage, a global provider of workforce solutions, today announced that Symphony Technology Group, a private equity firm with a strategic focus on software and service, has acquired the assets of First Advantage, a leader in a broad range of talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services.
Under the terms of the acquisition, which closed December 30, 2010, First Advantage will operate as a portfolio company of the Symphony Technology Group. First Advantage CEO Todd Mavis will stay on to lead First Advantage.
"Symphony Technology Group's mission is to invest in innovative companies and enable them to continue to provide unparalleled value to customers by expanding their market-leading products and services," said Bill Chisholm, Managing Director, STG. "Under the leadership of the existing First Advantage team, we will leverage and grow First Advantage's outstanding reputation, longstanding customer relationships, leading technology and talented team so that the company can continue to provide the technology solutions that allow organizations to make better business and talent management decisions."
"STG's outstanding track record of working with companies to improve their execution and innovation will help First Advantage continue to grow and succeed as a leader in global workforce solutions and as a partner in ensuring organizations make the talent management decisions that will advance their business objectives," said Mavis. "Organizations around the world face unprecedented challenges in today's environment. This relationship with STG will enable First Advantage to continue to deliver the services that help businesses mitigate risk and make the talent decisions that can help them successfully manage a changing terrain and we look forward to continuing to help our customers succeed."
STG companies are known for providing high value, high-impact solutions that help customers dramatically improve their performance, productivity and profitability through best-in-class processes and management.
About First Advantage
First Advantage 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 talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services. First Advantage is headquartered in Poway, Calif., and has offices throughout the United States and abroad. More information about First Advantage can be found at http://www.FADV.com
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformative expertise to enable its companies to deliver maximum value to their clients to retain and attract the best talent and to achieve best in class business performance. All STG companies are expected to grow through innovation. STG's current portfolio consists of 9 global companies.
For More Information, Please Contact:
Paige Vesuvio Vice President, Marketing +1-727-290-1000, ext. 2274 Paige.Vesuvio@FADV.com
SOURCE First Advantage