Experian®, the global information solutions company, has acquired Backgroundchecking.com, an organisation specialising in candidate background checking for job applicants and contractors. The acquisition will enhance Experian’s existing verification and fraud prevention offerings. It will enable clients to comply with regulations and significantly reduce the risk and impact of taking on an unsuitable candidate or failing to check existing employees and contractors. Given the potential costs of poor hiring decisions, more and more companies are placing a greater emphasis on robust recruitment practices.
Backgroundchecking.com specialises in employee risk management, offering a complete and detailed candidate pre- and post-employment screening service to clients both in the UK and internationally. The business was established in 2002 delivering CV verification of job applicants, existing employees, contractors and temporary staff. The services provided include rigorous verification of employment details, Criminal Records Bureau checks, screening of educational, technical and professional qualifications, through to a complete financial and fraud check.
Chris Nightingale, Director of Experian’s Consumer Business, said:
“Internal staff fraud and other criminal behaviour are growing problems for businesses and other organisations. This acquisition cements our commitment to providing our clients with the tools to protect their businesses from risk, including fraud. According to the recent KPMG Forensic Fraud Barometer, the cost of internal staff fraud in the UK alone rocketed to £468m during 2005 – and this is just the tip of the iceberg. There has also been an increase in the ‘planting’ of fraudsters within organisations to gain information and funds to fuel criminal activity. The need for effective background checking has never been so pressing.
“Backgroundchecking.com is a great fit with our existing verification solutions and will strengthen our ability to deliver and leverage our data assets, infrastructure and technology to enable the background checking business to meet its full potential.”
Steve Bailey, Managing Director of Backgroundchecking.com, said:
“We have experienced substantial growth in the last four years, providing high quality, cost effective, independent CV vetting to our clients. Due to many well-publicised and often traumatic incidents that could have been prevented by using an organisation such as ours, there has been a huge increase in public awareness and support for these services. The term ‘background checking’ is now a widely recognised and well understood proposition.
“There are significant advantages in joining Experian and we firmly believe it will be beneficial to existing and future clients, as well as our own staff. This is an exciting development and we are looking forward to a highly successful future as Background Checking, an Experian company.”
The acquisition is consistent with Experian’s stated global strategy of acquiring complementary businesses that expand distribution channels, broaden product offerings, and expand into new regions or vertical markets while leveraging the core assets of Experian.
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