Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

GlobalOptions Group Agrees to Acquire James Lee Witt Associates
Press release ^ | January 18, 2006

Posted on 01/18/2006 2:05:26 PM PST by HAL9000

NEW YORK--(BUSINESS WIRE)--Jan. 18, 2006--GlobalOptions Group, Inc. (OTCBB: GLOI), a leading provider of domestic and international risk management services, today announced that it has entered into a definitive agreement to acquire privately held James Lee Witt Associates (JLWA), based in Washington, D.C., for $6 million in cash and stock, the assumption of certain liabilities and an earn out based upon achieving certain revenue goals. The transaction, which is subject to financing and other conditions, is expected to close in the first quarter of 2006.

"James Lee Witt Associates is a major force within the public safety and crisis management industry, led by its esteemed founder and visionary, James Lee Witt," stated Dr. Harvey W. Schiller, chairman of GlobalOptions. "The acquisition of JLWA is a transformational event for the company in the execution of our strategy to build the premier global risk management company in the highly fragmented, multi-billion dollar risk mitigation industry. JLWA's expertise and global reputation gives us unparalleled experience and a broader geographic presence and expanded service offering to meet the growing demand among global corporations for a one-stop-solution to all corporate and public safety and security needs."

Once the acquisition of JLWA is completed, GlobalOptions will have offices in ten states (AR, CA, FL, GA, IL, MI, NY, PA, TN, TX) and the District of Columbia, further enhancing its talent pool to include the nation's leading experts in crisis and consequence management, as well as strategic advisory services.

Dr. Schiller continued, "We look forward to the contributions of JLWA's founder, chairman and CEO, James Lee Witt, who brings over 25 years of disaster and crisis management experience, including his past service as Director of the Federal Emergency Management Agency. James will be joined by JLWA's two highly distinguished vice chairmen: General Wesley Clark, one of the nation's most distinguished retired military officers, who formerly served as NATO Supreme Allied Commander; and Rodney Slater, who formerly served as U.S. Secretary of Transportation."

"This is an exciting opportunity for JLWA to build on our successes of the past 5 years," said James Lee Witt. "This new relationship with GlobalOptions will enable JLWA to not only help corporations and governments around the world be better prepared to handle any risk but to also provide the resources and expertise to respond and recover from any crisis." Witt added, "The acquisition of JLWA by GlobalOptions will permit us to offer our clients more services in the risk management and security arena. Joining this organization with over 120 employees will allow an aggressive growth strategy that will further expand the services and resources afforded to our clients."

About James Lee Witt Associates

Founded in 2001, James Lee Witt Associates (JLWA) is a leader in public safety and emergency management consulting with a multi-faceted range of relevant experience. Headquartered in Washington, DC with offices in Atlanta, Chicago, Little Rock, and Sacramento, JLWA assists universities, hospitals, non-profits, international organizations, Fortune 500 companies, and local and state governments in preparing for and responding to all hazards. James Lee Witt has more than 25 years of leadership and experience in the field of public safety, including eights years as the Director of the U.S. Federal Emergency Management Agency (FEMA). www.wittassociates.com. JLWA generated more than $11.5 million in revenue in 2005.

About GlobalOptions Group, Inc.

GlobalOptions Group, with main offices in New York and Washington DC, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations and high-profile individuals throughout the world. GlobalOptions' services currently include risk management and security, investigations and litigation support, and crisis management. These engagements take GlobalOptions staff around the world and are typically highly-sensitive engagements where GlobalOptions is interacting with senior leaders in corporations and governments. Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments.

Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of the business of JLWA and the continued successful implementation of the company's business strategy.

Certain of these risks and uncertainties will be described in greater detail in GlobalOptions' filings with the Securities and Exchange Commission. GlobalOptions is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.



TOPICS: News/Current Events; US: Louisiana
KEYWORDS: clark; fema; globaloptions; globaloptionsgroup; hurricanekatrina; jamesleewitt; jlw; jlwa; jwla; katrina; rodneyslater; slater; wesclark; wesleyclark; witt

1 posted on 01/18/2006 2:05:29 PM PST by HAL9000
[ Post Reply | Private Reply | View Replies]

To: HAL9000

Let me guess, Bill Clinton is a silent partner???


2 posted on 01/18/2006 2:14:32 PM PST by RAY
[ Post Reply | Private Reply | To 1 | View Replies]

To: RAY
Let me guess, Bill Clinton is a silent partner???

He may be going to Microsoft

3 posted on 01/18/2006 2:16:46 PM PST by HAL9000 (Get a Mac - The Ultimate FReeping Machine)
[ Post Reply | Private Reply | To 2 | View Replies]

To: HAL9000

Please correct me if I'm wrong. Wasn't James Lee Witt (less) a clinton hack who was called in to try to save Blanco's bacon? Offices in Little Rock?
That's a real terrorist/security target.
The only people in danger there are those that tell the truth about the clintons.

"This is an exciting opportunity for JLWA to build on our successes of the past 5 years," said James Lee Witt. "This new relationship with GlobalOptions will enable JLWA to not only help corporations and governments around the world be better prepared to handle any risk but to also provide the resources and expertise to respond and recover from any crisis."

Blackmail is more like it
What scum.


4 posted on 01/18/2006 2:22:16 PM PST by mikeybaby (long time lurker)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikeybaby

Actually part of that revenue was from drafting the Louisiana Emergency evacuation plan.


5 posted on 01/18/2006 2:33:49 PM PST by Wristpin ("The Yankees have decided to buy every player in Baseball....")
[ Post Reply | Private Reply | To 4 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson