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Altegrity to Acquire Kroll, the World's Leading Risk Consulting Firm, from Marsh & McLennan

By Brad Jenkins

NEW YORK and FALLS CHURCH, Va., Jun 07, 2010 (BUSINESS WIRE) --Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm, and Altegrity, Inc, an international screening and security solutions company, today announced a definitive agreement under which Altegrity will acquire Kroll Inc. from MMC in an all-cash transaction valued at $1.13 billion. Altegrity is owned by Providence Equity Partners, the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies.

The transaction, which is expected to close by late September, is subject to regulatory approvals and other customary closing conditions.

Altegrity CEO Mike Cherkasky, who also served as President and CEO of Kroll from 2001 to 2004, said: "Our clients look to Altegrity for information and insight to make smarter decisions. The combination of Kroll and Altegrity broadens our capabilities with the addition of a portfolio of industry-leading services to help clients identify and manage risk. Altegrity and Kroll will leverage their combined resources to develop new and innovative solutions for government and commercial clients across a global platform. Both Altegrity and Providence look forward to working with Kroll CEO Ben Allen and the entire Kroll team to deliver the highest quality service offering in the industry and to grow the combined business."

"This transaction represents exciting new opportunities for Kroll," said Ben Allen, CEO of Kroll. "Over the past several years, we have taken significant steps to improve profitability and enhance collaboration across our business units. Kroll is now poised to continue its historical track record of growth, which will be accelerated by the combination with Providence and Altegrity."

Full post as published by Litigation support industry business news and information on June 07, 2010 (boomark / email).