Sterling Infosystems, Inc., a major provider of identity and background checks, has reportedly announced its recent acquisition of Employment Background Investigations, Inc. (EBI) in a major deal.
Supposedly, with this key acquisition, Sterling plans to expand its presence in major verticals in the United States such as healthcare, financial services, manufacturing, transportation, and retail.
EBI, which was started in 1994, offers services for today's talent acquisition and employee management requirements, including background checks, occupational healthcare, drug screening, and computerized Form I-9.
It has created a customer base that incorporates blue-chip logos over a diverse set of verticals in the US market, thanks to its exceptional customer service and attention to regulations.
Sterling's vertical delivery model, business global reach, as well as a wider set of technical support will strive to provide quality support to these customers.
Rick Kurland, CEO of EBI, stated that everyone at EBI is pleased about the next chapter of the business. Sterling's strategy and culture are a perfect fit for EBI, and the company is excited to provide more solutions to its clients.
Josh Peirez, CEO of Sterling, stated that the firm is excited to welcome EBI to Sterling’s family. He added that Sterling hopes to develop outstanding client connections with the additional benefits of its worldwide services and unsurpassed customer services in collaboration with the EBI team.
Estimates are made that by 2022, the all-cash deal is estimated to generate more than $30 million in revenue. Furthermore, the transaction is reported to be particularly synergistic and accretive to adjusted earnings.
Sterling's technology-enabled services assist businesses of all sizes in creating outstanding experiences for their employees, partners, and clients. It conducts over 89 million background screenings every year through its global operations.