FICO Acquires InfoCentricity; Terms Undisclosed
FICO (NYSE: FICO), a leading predictive analytics and decision management software company, today announced its intention to acquire InfoCentricity, a private, software-as-a-service-based predictive analytics software company based in Novato, California. The transaction is expected to close in April, 2014, upon satisfaction of typical closing conditions. Although terms were not disclosed, the transaction is not expected to have a material impact on the company's 2014 financial results.
With this acquisition, FICO immediately has the broadest offering for predictive analytics modeling, available in the cloud and on-premise. FICO will leverage the InfoCentricity products, including Xeno® model development software and Strategy Trees decision strategy software, as valuable additions to the FICO Analytic Cloud.
"Growing demand for analytics that generate real and reliable value from data is creating enormous pressures on organizations of all sizes and in all industries," said Will Lansing, CEO, FICO. "With this acquisition, we are able to put the most sophisticated, cloud-based analytics modeling tools into the hands of the entire spectrum of users, from first-time modelers and seasoned business analysts, up through advanced data scientists and the most demanding analytics professionals."
For businesses in highly regulated industries, the analytic development process requires a high degree of control and transparency. "Together with FICO's other leading analytics tools and solutions, InfoCentricity's technology brings deep insight, visibility and control to the model building process, allowing collaborative teams to craft the very best predictive models and decision strategies," said Jeff Dandridge, CEO, InfoCentricity. "Adding these tools to the FICO Analytic Cloud will mean greater predictive acumen for organizations of all sizes."
Besides valuable technology, this acquisition adds to FICO's list of blue-chip clients in financial services, retail and other industries, as well as to its talented and experienced team of analytic scientists and developers.
About FICO FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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