FIRST ADVANTAGE ACQUIRES JENARK BUSINESS SYSTEMS,INC.
- ACCESS Products Enhance Property Management Software Offering -
ST. PETERSBURG, Fla., Sept 01, 2005 /PRNewswire-FirstCall via COMTEX/ -- First Advantage Corporation (Nasdaq: FADV), a risk mitigation and business solutions provider, today announced that it has acquired Jenark Business Systems, Inc., a leading provider of fully integrated property management, financial accounting and services software to the real estate industry. The transaction enhances First Advantage's existing software offering and creates opportunities to cross sell First Advantage's portfolio of services to Jenark Business Systems' clients.
Founded in 1987 in Gaithersburg, Md., Jenark Business Systems launched its flagship product line, ACCESS, in 1990 to meet the real estate industry's growing demand for a comprehensive software solution. Whether hosted or installed at a client's site, ACCESS' modular technology allows clients to configure a system that best meets the specific needs of their business. Today, ACCESS is used by property managers and accountants at leading residential, commercial and community association property management companies in the United States to manage and report on workflow, customers, commissions, communications, general ledger, receivables, payables, payroll and numerous other functions.
"First Advantage continues to seek out best-of-breed services to broaden our relationships with property management companies nationwide," said John Long, chief executive officer of First Advantage. "Jenark's comprehensive software adds another industry-leading solution to offer to our existing clients. In turn, we look forward to introducing our screening, performance analytics and renters insurance services to Jenark's clientele."
Mark Jennings, owner of Jenark Business Systems said, "First Advantage's top ranked position in the resident screening marketplace presents great opportunities for Jenark growth. We are looking forward to assuming the First Advantage name as we continue our longstanding focus on delivering an outstanding product and excellent service."
Jenark Business Systems will become part of First Advantage's SafeRent Services division, based in Rockville, Md. and part of the company's Enterprise Screening segment.
About First Advantage Corporation
First Advantage Corporation (Nasdaq: FADV) provides best-in-class, single-source risk mitigation and business process solutions for enterprise clients. Incorporating state-of-the-art technology, proprietary systems and data resources, First Advantage is a leading provider of employment background screening, drug-free workplace programs and other occupational health testing, corporate tax consulting services, resident screening, motor vehicle records, transportation credit reporting, insurance fraud investigations, computer forensics, data recovery, due diligence, electronic discovery and supply chain security consulting. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 2,300 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889. First American is the nation's largest data provider, supplying businesses and consumers with information resources in connection with the major economic events of people's lives. Additional information about the First American Family of Companies can be found at www.firstam.com.
|First Advantage Contact:
First Advantage Corporation
727.214.3411, ext. 5212
727.214.3411, ext. 260
SOURCE First Advantage Corporation
Renee Svec, Director of Marketing & Communications, +1-727-214-3411, ext. 212,
rsvec@FADV.com, or Cindy Williams, Investor Relations Manager, +1-727-214-3411, ext.
260, clwilliams@FADV.com, both of First Advantage Corporation