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July 2010
has completed the sale of Screening International LLC to
Sterling Infosystems, Inc.
The undersigned acted as exclusive financial advisor to Intersections in connection with this transaction.
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Intersections Inc. (Nasdaq: INTX)
On July 19, 2010, Intersections Inc. sold its wholly-owned subsidiary, Screening International LLC, to Sterling Infosystems, Inc. Screening International provides pre- employment background screening services domestically and internationally, including criminal background checks, driving records, employment verification and reference checks, drug testing and credit history checks. Signal Hill acted as exclusive financial advisor to Intersections in connection with the sale.
Sterling Infosystems acquired 100 percent of the membership interests of Screening International for an aggregate purchase price of $15 million plus adjustments of approximately $1.2 million for working capital and other items.
Intersections, based in Chantilly, Virginia, is a leading provider of consumer and corporate identity risk management services. Its premier identity theft, privacy, and consumer solutions are designed to provide high-value opportunities to its marketing partners, including leading financial institutions, Fortune 100 corporations, and other businesses. Intersections' consumer identity theft protection services have protected more than 30 million consumers.
Sterling Infosystems is a leading New York-based technology firm providing employment and student screening services, corporate due diligence and background investigation services, occupational health services, and employment related business tax consulting services in the United States and 200 countries around the world. More than 7,500 companies trust Sterling to provide them with high quality, reliable data on which they base hiring, continued employment and admission decisions. With offices in most major cities in the U.S., Sterling's clients range from leading Fortune 500 firms to small and medium sized businesses.
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