IdentityForce

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search


IdentityForce, Inc., is an American corporation that provides Identity Theft Protection software to consumers, businesses, organizations, and U.S. government agencies.

Headquartered in Framingham, Massachusetts, the company was founded by Bearak family members, Steven Bearak (brother) and Judy Leary (sister) in 2005.[1]

IdentityForce was originally incorporated in Massachusetts, on October 30, 1978, as Stop-Loss Associates, Inc. a Sub Chapter S Corporation.[2] On August 15, 2018 IdentityForce announced it was acquired as a subsidiary of EZShield. [3]

Early History (1978 – 1996)[edit]

In 1978, Herbert P. Bearak (patriarch of Bearak family) founded and incorporated Stop-Loss Associates, Inc.,[4] a Loss Prevention Analysis company, which included the development, implementation, and testing of security policy and procedure best practices as well as best in class security equipment and systems.

In 1992, Bearak Reports was established as a Service Division of Stop-Loss Associates, Inc. Using credit and widely available non-credit information, the company sold a broad range of Asset Search, Background Screening, Business Intelligence and Public Record Information Services to Law Firms, Financial Services Companies, Government Agencies, and general corporate and private users.

In 1996, Stop-Loss Associates was acquired in an asset sale by the Marcom Group, with Herbert Bearak and other family members retaining 100% of the company’s stock and original Employer Identification Number (EIN). Following the sale the company officially changed its name to Bearak Reports, Inc.

In late 1996, The Privacy Group was launched as a Service Division of Bearak Reports, Inc. The Privacy Group created a toolkit to help consumers protect their personal privacy during the early years of the digital internet revolution.

Establishment of IdentityForce, Inc.[edit]

In 2006, Bearak Reports, Inc. launched IdentityForce,[5] another Service Division built to provide end to end solutions to companies and government agencies that experience a data breach. Shortly thereafter, public concern over the security of personal information stored by the federal government was raised when the U. S. Department of Veterans Affairs revealed that it had suffered a data breach that compromised the personal information of more than 28,650,000 active duty personnel and veterans. Subsequently, the U.S. General Services Administration] (GSA)[6] awarded Bearak Reports, Inc., d/b/a IdentityForce a government-wide Federal Supply Schedule Blanket Purchase Agreement (BPA) for identity monitoring, and data breach response and protection services.

In 2011 and 2013 the company was awarded other Blanket Purchase Agreements for similar products. In 2015 IdentityForce, was awarded Tier One status as an approved provider of identity protection services for data breaches affecting over 21.5 million people.[6] In 2016 Bearak Reports, Inc. officially changed its name to IdentityForce, Inc.

Acquisition by EZShield[edit]

On August 15, 2018, IdentityForce was acquired by EZShield, a portfolio company of the Wicks group, for an undisclosed amount. EZShield said the acquisition will expand its capabilities to offer digital security measures as cybercrime increases. [7] Following the acquisition, EZShield + IdentityForce has appointed Donna Parent as its chief marketing officer, Heidi Daitch as its chief strategy officer and Dale Dabbs continues to serve as the company's President and CEO. [8]

References[edit]

  1. ^ "Identity Force: Private Company Information - Bloomberg". www.bloomberg.com.
  2. ^ "S Corporations - Internal Revenue Service". www.irs.gov.
  3. ^ "EZShield Acquires IdentityForce - Crunchbase". www.crunchbase.com.
  4. ^ https://www.bbb.org/boston/business-reviews/security-control-equipment-and-system-monitors/stop-loss-associates-inc-in-marlborough-ma-13484
  5. ^ "Steven D. Bearak - Chief Executive Officer of Identity Force and Bearak Reports, Inc. @ IdentityForce - Crunchbase". Crunchbase.
  6. ^ a b "GSA Awards BPAs for Identity Monitoring, Data Breach Response and Protection Services". www.gsa.gov.
  7. ^ "M&A wrap: Carlyle, David Rubenstein, PPC, Tony Pritzker, Soundcore, Sycamore - Mergers&Acquisitions". www.themiddlemarket.com.
  8. ^ "Donna Parent and Heidi Daitch: EZShield + IdentityForce - The Daily Record". www.thedailyrecord.com.