GlobalOptions Group goes with name recognition
NEW YORK--Domestic and international risk-management services provider GlobalOptions Group announced in February an agreement to acquire SafirRosetti, a security, investigative and intelligence firm, for $13 million in cash and stock and the assumption of certain liabilities.
This follows close on the heels of GlobalOptions' buy of James Lee Witt Associates, an emergency management firm.
The two companies bring GlobalOptions some serious name recognition and industry experience. SafirRosetti is headed by Howard Safir, former commissioner of the New York City Police Department, and Joseph Rosetti, a founder and former vice chairman of Kroll Associates and former director of security at IBM. James Lee Witt, former director the Federal Emergency Management Agency in the Clinton Administration, heads up James Lee Witt Associates. Assuming the acquisitions are completed, GlobalOptions will swell to nearly 200 employees with offices in 15 cities.
In an interview, Safir said he will become vice chairman at GlobalOptions and take on the title of chief executive officer of the SafirRosetti division, which will include his former company, plus "future companies purchased by GlobalOptions." Safir said his company brings to GlobalOptions the ability to engineer and design security systems, which it does for a number of sports teams and energy companies currently. Also, he cited SafirRosetti's brand-protection work as being unique to GlobalOptions.
"We were not looking to sell," said Safir, "We were approached and the goals they have are very similar to the goals that we have. They just have the resources to get it done faster." He also noted that he had worked with Witt when he was commissioner in New York and was excited about working with him again.
"We want to be the defining brand in the domestic and international risk-management and intelligence and security arena," said Harvey Schiller, chairman at GlobalOptions.
He said GlobalOptions, to that end, is looking to be acquisitive, but "For right now, we need to make sure we don't identify with yesterday's technology. We have to move forward with the best and most marketable systems that are out there."