COMPANY HISTORY

• The GEO Group, Inc., formerly known as Wackenhut Corrections Corporation (WCC), was founded as a division of a New York publicly listed security company in 1984. In 1994 it became a separately traded public company listed on the New York Stock Exchange.
• On 5 August 1991, WCC set up a subsidiary company in Australia trading under the name Australasian Correctional Management Pty Ltd (ACM). In the following year ACM won two tenders for the management of prisons in Australia with Arthur Gorrie Correctional Centre in Queensland becoming its first operational facility in June.
• In April 1993, ACM commenced operation of its second facility, the Junee Correctional Centre in New South Wales, which was a design, build and operate contract.
• In 1995, the company won its third contract, to design, build, finance and manage the Fulham Correctional Centre in Victoria, which opened on April 7, 1997.
• On 1 January 1998 Pacific Shores Healthcare, a business operated by ACM, completed six week transition of health services at nine public prison sites across Victoria that involved establishing a healthcare network.
• In February 1998, ACM was the successful tenderer for the management of the country's Immigration Detention Centres under contract to the federal Department of Immigration and Multicultural Affairs. These contractual obligations continued until February 2004.
• The Melbourne Custody Centre came under ACM management in March 1999 under contract to the Victoria Police. The contract was renewed in 2005 for a further five-year term.
• In 2003 a management buyout deal with its parent company required that WCC change its name to one that could not be confused with that of its former parent company.
• With shareholder approval, a new corporate name “The GEO Group, Inc.” was adopted. GEO, derived from the Greek word for “world”, reflects the company’s position as a world leader in the delivery of diversified government services, as well as the global vision to pursue new business opportunities in diversified areas.
• On 15 January 2004, the Australian subsidiary (ACM) changed its name to “The GEO Group Australia Pty Ltd”.