FICO announced a plan to acquire Adeptra Ltd., a cloud-based customer engagement and risk intervention services firm, for an all-cash purchase price of $115 million.
The deal is expected to be completed in September. Adeptra, based in Reading, UK and Norwalk, Ct., is currently owned by a consortium of investors led by ABS Ventures.
FICO, based in Minneapolis, has had a relationship with Adeptra since 2002, and has been an Adeptra reseller since 2007. Adeptra's employees and management team will join FICO following the completion of the transaction. FICO provides analytics to measure credit risk and other services.
Adeptra, founded in 1996, provides services that help businesses communicate with customers using voice, SMS, mobile applications, email and other channels. By contacting customers instantly using their preferred channel, a business can quickly resolve matters such as identifying whether a credit transaction is fraudulent, confirming a payment plan with a customer and fixing customer service issues, according to a company news release.
Adeptra then feeds this information back to the business's host system in a closed-feedback loop that improves risk management and future communications success. Adeptra serves clients in financial services, telecommunications, utilities and other industries, including more than half of the world's top 50 banks. The company has offices and data centers around the globe.
"For many of our clients, fraud protection and even debt collection have become important drivers of customer satisfaction and loyalty," says Will Lansing, FICO's CEO. "By integrating Adeptra's leading customer engagement and risk intervention platform with FICO decision management applications, we're enabling our clients to interact with their customers in ways that strengthen customer loyalty while minimizing business risks. That way, our clients can grow in lock-step with the evolving mobile economy."
Fair Isaac Corp. said in June it will consolidate its 370 employees in downtown Minneapolis and Arden Hills, Minn., into one campus in Roseville, Minn.