The GEO Group Awarded Contract by U.S. Immigration and Customs Enforcement for Provision of Skip Tracing Services
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skip tracing servicestechnical
Skip tracing services locate people who cannot be easily found—such as debtors, witnesses, or owners of assets—by searching public records, contact databases, social media, and other information sources. Investors care because these services help companies recover unpaid loans, enforce judgments, settle legal claims, or find asset holders, which can materially affect cash flow and the value of receivables; think of them as a high-tech paper trail used to track down missing money.
non-detained dockettechnical
A non-detained docket is a record or listing of shipments, filings, or cases that an authority (such as customs or a regulator) has not held for inspection or further action, meaning those items are free to move forward through the supply chain or administrative process. For investors, a non-detained docket signals fewer regulatory or logistical delays—like a package released from the post office—so expected inventory arrivals, revenues and cash flows are less likely to be disrupted.
BOCA RATON, Fla.--(BUSINESS WIRE)--
The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that its wholly-owned subsidiary, BI Incorporated (“BI”), has been awarded a contract by U.S. Immigration and Customs Enforcement (“ICE”) for the provision of skip tracing services. Skip tracing services entail enhanced location research with identifiable information, commercial data verification, and physical observation to verify current address information and investigate alternative address information for individuals on the federal government’s non-detained docket.
The new contract has a term of two years, with an initial term of one year, effective December 16, 2025, and an additional one-year period. The estimated revenue value of the two-year contract is up to approximately $121 million.
George C. Zoley, Executive Chairman of GEO, said, “The expansion of our services addressing the non detained docket through this new contract is a testament to the high-quality solutions BI has provided to ICE for more than 21 years. We appreciate the confidence that ICE and the U.S. Department of Homeland Security have continued to place in our company.”
About The GEO Group
The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 95 facilities totaling approximately 75,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.
Use of forward-looking statements
This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.
