Fair Isaac Corp. has completed its $115-million acquisition of Adeptra, a privately held company that provides technology for reducing fraud and credit risk.
Minneapolis-based Fair Isaac says the combination of its decision management systems and Adeptra's cloud-based software will equip financial institutions with a set of services for managing risk and fighting fraud in customer transactions, including the ability to ferret out fraud in real time.
"This is a major enabler for our clients in connecting their growth and risk strategies with the demands of the mobile economy," Will Lansing, Fair Isaac's chief executive, said in a statement Sept. 9. The companies announed the acquisition last month.
The all-cash deal culminates a decade-long relationship between Fair Isaac, which is best known for a system that calculates consumer credit scores, and Adeptra, which is based in Norwalk, Conn. and Reading, U.K.
The companies teamed up in June 2011 to integrate Fair Isaac's fraud management software with Adeptra's automated customer contact services.