MJM Investigations, which checks up on insurance claimants using a range of hi-tech surveillance techniques, was picked up by the security giant from its chairman, Michael J Malone.
The acquisition is the second announced by G4S this week as it continues its aggressive expansion into a wide range of markets. The FTSE 100-listed company has earmarked at least GB pound 100m for acquisitions this year.
Grahame R Gibson, chief operating officer at G4S, said, “We are eager to include MJM as part of our strategic portfolio of risk management services and know that they will enhance our service offering to our customers around the world.”
It is thought that Malone will be staying with the company as it – along with other affiliated companies – joins G4S.
“MJM was founded upon the vision of being the leading global provider of investigative solutions,” he said. “Today that vision is a reality as a result of the acquisition by G4S.
“This partnership will enhance MJM’s global bandwidth and allow us to accomplish our long-term goals and strategies. We’ll now be able to deliver our comprehensive portfolio of services throughout the world.”
The company conducts thousands of surveillance operations every year, operating in 70 countries worldwide. Its employees upload reports, videos, colour photographs, real-time case notes and collective information to a special website, which clients can log into 24 hours a day to get updates.
MJM’s other offerings include background screening, due diligence services and risk management consultancy. The firm employs 374 people and its sales hit US $45m in 2007.