Kroll Ontrack Completes Acquisition of Norway’s Ibas Holdings
-- Deal Further Strengthens Leadership Position Worldwide in Data Recovery and Computer Forensics Marketplace --
MINNEAPOLIS, Jan. 31, 2006 – Kroll Ontrack Inc., the data recovery and legal technologies subsidiary of Kroll Inc., the global risk consulting company, announced today that it has completed the acquisition of Ibas Holdings ASA, a leading Norwegian-based provider of data recovery, data erasure and computer forensics services. Effective today, Ibas becomes a wholly-owned subsidiary of Kroll Ontrack AS, a newly-formed Norwegian entity.
The acquisition, which is valued at NOK 298 million (US $45 million), was completed following shareholders’ acceptance of a public offering of NOK 23.50 per share. The conditions of the offer – acceptance by 90 percent of the Ibas shareholders and approvals from the Norwegian and German competition authorities – were met within 30 days of the offer’s launch.
“By combining the strengths of these organizations, we are able to bring world class data recovery and computer forensics services to customers in 13 different languages in more than 21 countries,” said Ben Allen, president of Kroll Ontrack. “The integration of our industry-leading companies will enable us to leverage and exchange resources, expertise and technical capabilities, and further reinforce our best practices. The result will be greater benefits for our customers and partners, and for the data recovery and computer forensics industry at large.”
A team has been formed to develop plans for integrating the companies within 90 days. In the meantime, no changes are planned for the 166 Ibas employees and Bjoern Arne Skogstad, former CEO of Ibas Holdings ASA, will remain in his leadership role for the Ibas group.
“It is more important now, than ever before, that we stay focused on our business,” said Skogstad. “We have built a world class data recovery, data erasure and computer forensics company, and we look forward to sharing best practices as our integration progresses. Today, tomorrow and in the future, we need to continue operating our business with the pride, quality of service and leading edge technology that our customers have come to expect.”
In 2005, the combined companies completed more than 50,000 data recovery jobs for customers across the globe. Utilizing more than 40 years of shared experience, the new organization will continue to deliver industry-leading service and support – offering the fastest, most cost-effective data recovery and computer forensic solutions for individuals and businesses around the world.
Ibas recently expanded its own geographic reach and service offerings through its acquisition of Vogon International, a privately-held U.K. company, providing data recovery and specializing in computer forensics. As a result of the Vogon acquisition, Ibas has a total of 166 employees working at offices in Norway, Sweden, Denmark, Finland, England, Germany, Poland, France, Singapore and the United States, as well as distributors and agents in a number of European and Asian countries. For Ibas and Vogon combined, 2004 sales exceeded NOK 163 million (US$ 24 million).
About Kroll and Kroll Ontrack
Kroll Inc. (http://www.krollworldwide.com), the world's leading risk consulting company, is a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm. Headquartered in New York, Kroll provides a wide range of investigative, intelligence, financial, security and technology services through offices in more than 65 cities in over 25 countries. Kroll Ontrack Inc. (www.krollontrack.com), Kroll's principal technology services subsidiary, provides electronic and paper-based discovery, computer forensics, and data recovery services to companies, law firms, and government agencies worldwide. Headquartered in Eden Prairie, Minnesota, Kroll Ontrack operates in 18 locations and offers customer support in 11 languages. Ontrack Data Recovery (www.ontrack.com), a division of Kroll Ontrack, is the largest, most experienced and technologically advanced provider of data recovery products and services worldwide.