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SOURCE WorldVetting, LLC
NEW YORK, Oct. 15, 2013 /PRNewswire/ -- WorldVetting LLC a New York-based international risk management agency and developer of information verification systems, announced today it has executed a definitive purchase agreement to acquire all of the shares of Tudor Academy SAS of Medellin, Colombia, for a purchase price, payable in WorldVetting LLC common stock and cash, totaling U.S. $5,000,000. Closing of the transaction is anticipated in February 2014 and is subject to various closing conditions including approval of certain Colombian government agencies.
Tudor Academy SAS is one of the 25 accredited schools by the American Polygraph Association, engaged in polygraph training, corporate investigations and litigation support as well as designing special deception detection technology. Charles Speagle, the Company's CEO and School Director, will continue in his present role indefinitely.
Commenting on the transaction, Mark R. Bartch, CEO of WorldVetting LLC, stated, "The acquisition of Tudor Academy SAS gives our Investigative and Intelligence Group the opportunity to continue to expand its presence in South and Central America. We view this region as an excellent market presenting opportunities for all of our Company's products and services."
Also commenting on the transaction, Hugo Padilla, Director of special projects in Latin America of WorldVetting LLC, stated, "The detection deception technology developed by Tudor Academy SAS will allow our Company to broaden its expertise in this business and then offer those services in other areas around the world. Additionally, we see the acquisition as offering opportunities to sell products and services from our Security Services Group and in Colombia."
About Tudor Academy SAS
Tudor Academy is a world recognized leader in the art and science of teaching Polygraph and Polygraph related science accredited by the American Polygraph Association (APA) as being one of the very few Accredited Polygraph Schools, world-wide.
For more information, visit http://www.tudoracademy.com.
About WorldVetting, LLC
Headquartered in New York, New York, WorldVetting, LLC is an international risk management agency and developer of information verification systems. The firm was founded in 2007 to serve the needs of multinational corporations, financial institutions and government agencies in security and investigative matters. The Company is organized into three primary business groups: Investigations & Intelligence Group, Polygraph Services & Training Group, and Information Verification Services Group.
For more information, visit http://www.worldvetting.com.
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