LONDON (5 February 2008) – International law firm McDermott Will & Emery has advised IntegraScreen Holdings Limited, a global provider of due diligence services, on the sale of assets and subsidiaries relating to such services to UK-based risk intelligence provider Global World-Check Holdings Limited. The deal involved multiple jurisdictions (including China, Dubai, Hong Kong, India, Malaysia, Panama, Poland, Singapore, the United Kingdom and the United States of America).
IntegraScreen Holdings Limited provides international due diligence service including the International Enhanced Due Diligence (IEDD) reports, as well as immigration screening and risk data services to global corporations and governments worldwide.
Global World-Check Holdings is a UK based risk intelligence specialist and one of the world's leading intelligence services to banks, financial institutions, law firms, and accountancies. The company supplies critical risk intelligence services to more than 3000 institutions, including 47 of the world's 50 largest banks and more than 200 enforcement and regulatory agencies in the US, EU and globally.
IEDD reports are specifically designed to cater to market needs and provide KYC and business partner screening that meets Anti Money Laundering (AML), anti corruption and Counter Financing of Terrorism (CFT) compliance obligations such as those required under the Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley Act (SOX) and the USA Patriot Act. Due diligence reports are essential when: conducting pre-merger and acquisition inquiries and pre-IPO research; entering into a new international joint venture; engaging a critical business partner in an emerging market; reviewing international hedge funds and implementing best practices for regulatory compliance and corporate governance.
Commenting on the transaction McDermott Will & Emery spokesperson said: "We are delighted to have acted for IntegraScreen Holdings on this significant sale, and on yet another deal in the business services sector. In the current financial climate, products and services such as IEDD reports and related services are critical to any transaction or business venture, and we are delighted that a global provider such as Global World-Check has identified the IntegraScreen due diligence business as a cutting edge one, developed by some of the leading experts in the field, and therefore one which will make a considerable addition to their offering."
Portico Capital acted as IntegraScreen Holding Limited's financial adviser.
Latham and Watkins advised the purchaser with Charles Fuller leading the team.