Sterling Corp. reports Q4 & full year 2023 results, and First Advantage acquires Sterling Check for $2.2B in cash & stock.
Sterling Corp. reports Q4 & full year 2023 results, with revenues at $169.4M (-0.3% YoY). Organic revenue growth at 7% for new business, 8% up-sell/cross-sell, and 96% gross revenue retention. First Advantage acquires Sterling Check for $2.2B in cash & stock, extending its background screening solutions and enabling increased AI & digital ID tech investment. The deal drives expected double-digit EPS accretion and accelerated earnings growth potential.
February 29, 2024
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