Thursday, December 09, 1999
NEW YORK, September 23, 1999 -- DBT Online, Inc. (NYSE: DBT) announced it has closed on the acquisition of the online public records business of Information America of Atlanta, Ga. from The Thomson Corporation. The acquisition includes KnowX.com (www.knowx.com), a leading Internet-based public record research tool for consumer and small office users, and Informed which offers qualified users, including commercial lending and leasing companies, access to public information through the Internet or dial-up modems.
DBT acquired KnowX.com and Informed as part of its strategy to expand and diversify its customer base and enable the Company to further market its existing products to the rapidly growing population of Internet users. The acquisition price was $25 million in cash plus 329,172 DBT warrants with a strike price of $52.50 and a duration of 18 months. Credit Suisse First Boston Corporation acted as financial advisor to DBT with respect to the acquisition.
About DBT Online, Inc.
DBT Online, Inc. (www.dbtonline.com) is one of the country's largest depositories of public records and other information, containing more than 4 billion records and more than 25 terabytes of data storage capacity. DBT's customers use its online information services to detect fraudulent activity, assist law enforcement efforts, locate people and assets, and verify information and identities, as well as many other purposes. DBT currently has more than 14,000 customers, consisting primarily of insurance companies, law firms, private investigators, and law enforcement and government agencies.