Fair Isaac pays $115M for software firm
- Article by: JENNIFER BJORHUS
- Star Tribune
- August 16, 2012 - 8:29 PM
Fair Isaac Corp. is buying Adeptra Ltd., a London-based provider of a multi-communication-channel software service, for $115 million.
The cash purchase, which was announced Thursday, is to close in September.
The deal cements an already close relationship. Minneapolis-based Fair Isaac, an analytics company best known for its FICO credit score, has worked with Adeptra since 2002 and has integrated Adeptra technology into its Falcon Fraud Manager, a payment card fraud detection product.
Adeptra was founded in London with U.S. headquarters in Norwalk, Conn., and employs more than 150 people. The privately held company is owned by a group of investors led by Waltham, Mass.-based ABS Ventures.
Adeptra's two-way communications platform allows financial companies and their customers to communicate via voice, text, e-mail and direct mobile.
Stuart Wells, Fair Isaac's chief technology officer, said the acquisition provides Fair Isaac's bank customers "with a closed-loop system where we have the application and communication infrastructure to close any fraudulent activities."
Fair Isaac primarily works with financial services companies, but also works with retail and pharmaceutical firms.
Adeptra is Fair Isaac's second acquisition in recent months. In May it announced the purchase of Entiera Inc., a small company in Denver that makes a customer dialogue management tool.
Fair Isaac is moving its corporate headquarters from downtown Minneapolis to Roseville, but said it hasn't yet set a timeframe on the move.
Jennifer Bjorhus 612-673-4683
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