By Ben Fox Rubin, Wall Street Journal
“Fair Isaac Corp. (FICO) agreed to acquire risk-management software firm Adeptra Ltd. for $115 million in cash, giving the creator of the FICO credit score more offerings in business-management services.
Adeptra is based in Reading, U.K., and Norwalk, Conn., and provides a software-as-a-service platform with tools to help financial service institutions and other businesses manage risk, fight fraud and improve customer communication. Founded in 1996, the firm is currently owned by a group of investors led by venture capital firm ABS Ventures.
The deal, expected to close next month, is expected to benefit Fair Isaac’s bottom line in its 2013 fiscal year. Fair Isaac also unveiled a $150 million buyback program to replace a recently completed repurchase program. The company’s market value as of Thursday’s close was $1.5 billion.”