First Advanta (ADVNB)ge A (FADV)

First Advantage Corporation (FADV) is a provider of risk mitigation solutions. In September 2005, FADV realigned its business segments to better position the company for further strategic growth. The realigned business segments are as follows lender services, data services, dealer services, employer services, multifamily services, and investigative and litigation support services.

The lender services segment offers nationwide lenders credit reporting solutions for mortgage and home equity needs. Data services include transportation credit reporting, motor vehicle record reporting, criminal records reporting, sub prime credit reporting, consumer credit reporting, and location services. Dealer services include credit reports, credit automation software, and redevelopment services to support automobile dealerships nationwide. Employer services comprise employment background verifications, occupational health services, and cash consulting services. The multifamily services segment includes residence screening, property management, and renter's insurance services. The investigative and litigation support services segment consists of insurance fraud investigations, surveillance, computer forensics, electronic discovery, data recovery, and due diligence reporting.

Following the acquisition of First American Corporation's (NYSE: FAF) Credit Information Group (CIG) for approximately $570 million, FAF has a 75% economic ownership interest and controls substantially all of the voting interest in FADV. On January 15, 2008, First American Corporation announced plans to spin-off its Financial Services companies into a separate publicly-traded company. First American will be split into two companies, one consisting of the Financial Services businesses, and one consisting of the Information Solutions businesses. The ownership interest in FADV will be retained by the Information Solutions company. The transaction is expected to be tax-free to FAF shareholders.

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