Tuesday, June 10, 2008

HireRight In $195M Merger

Irvine-based HireRight, and Virginia-based US Investigations Services, LLC, a provider of pre-employment, security investigations, and other services for the federal government, said Monday afternoon that the two have signed a definitive agreement to merge in a $195M transaction. According to the firms, USIS will pay HireRight stockholders $15.60 per share in cash for HireRight, which will become part of the USIS Commercial Services Division. HireRight is a provider of employment background screening services. HireRight was advised by Credit Suisse and Dorsey & Whitney LLP in the deal; USIS, which is owned by Providence Equity Partners, was advised by Lehman Brothers, Portico Capital Securities LLC, and Debevoise & Plimpton LLP.