By PR Newswire Last Update: 4/27/2006 9:02:09 AM Data provided by
SAN DIEGO, April 27, 2006 /PRNewswire-FirstCall via COMTEX/ -- Dalrada Financial Corporation (DRDF) today announced that it has acquired Strategic Alternative Staffing, LLC, a Dallas-based broker of staffing and insurance services in an all-cash transaction.
The acquisition, effective on May 1, 2006, establishes a Texas presence for Dalrada, and expands the Company's organization to include a wider product line of insurance products to its clients throughout the U.S. The insurance and enrollment operations are expected to contribute an additional $250,000 in profits annually.
The acquisition is the first in a series of new initiatives to expand Dalrada's services to a growing client base throughout the U.S. Dalrada is expanding its services to include a variety of products and services for businesses, including insurance products and financial services in addition to its core human resource support services.
Strategic Alternative Staffing (to be re-named Dalrada Financial Services) will service all Dalrada clients and employees nationally. Teams of experts will provide comprehensive human resources support for clients and employees on an ongoing basis. These teams include licensed insurance agents who will provide counsel on a variety of insurance products, including health care, commercial property and liability coverage, and deferred compensation programs.
Additionally, Dalrada's presence in the Dallas market establishes a footprint for the Company in the southwest, including a full-service staffing office housing human resources, payroll processing, customer support, and risk management.
"This transaction adds significant value to our current level of service and support to our clients throughout the U.S.," said Brian Bonar, CEO. "In addition to providing additional services, we have established a local presence in one of the most dynamic markets in the country," he added.
Dalrada provides employer business solutions to small and medium-size businesses. Its customers outsource many administrative tasks associated with human resources management to Dalrada. Services include payroll processing, workers' compensation insurance, employee benefits (including 401k and health insurance plans), and business risk management (including general and professional liability insurance), and staffing services.
Dalrada provides these services through its subsidiary companies and operating groups, which include: SourceOne Group, Heritage Staffing, The Solvis Group, M&M Nursing, MedicalHR(TM), and CallCenterHR(TM).
About Dalrada Financial Corporation:
Dalrada Financial Corporation provides employer business solutions to small to medium-size businesses. The Company assists clients in providing a wide variety of management and employee programs that increase business efficiency. These include: payroll and human resources support, staffing, employee benefits, risk management insurance (including workers' compensation and business liability), financial management, and other business management products and services. Information on the Dalrada family of companies is available at: www.dalrada.com, www.thesolvisgroup.com, www.mandmnursing.com, www.colorvisuals.com, and www.color.com.
Safe Harbor:
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
CONTACT: Eric Gaer, 858/277-5300, egaer@dalrada.com
