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Hireright Acquires Majority Share Of Dtis

Jul 06, 2023•over 2 years ago

Acquiring Company

HireRight

Acquired Company

DTIS

NashvilleRisk ManagementInformation Technology

Description

HireRight Holdings Corporation (NYSE: HRT) ("HireRight”), a leading provider of global background screening services and workforce solutions, today announced the acquisition of a majority share of Digital Trusted Identity Services, LLC (“DTIS”), an FBI-approved channeler (which submits fingerprints to the FBI and receives FBI criminal history record information) specializing in collecting and processing biometric and biographical data.

Company Information

Company

HireRight

Location

Nashville, Tennessee, United States

About

HireRight is a leading global provider of technology-driven workforce risk management and compliance solutions. We provide comprehensive background screening, verification, identification, monitoring, and drug and health screening services for approximately 38,000 customers across the globe. We offer our services via a unified global software and data platform that tightly integrates into our customers’ human capital management systems enabling highly effective and efficient workflows for workforce hiring, onboarding, and monitoring. In 2022, we screened over 24 million job applicants, employees and contractors for our customers and processed over 107 million screens.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed