FICO Acquires CR Software, a Leading Provider of Collections and
Recovery Solutions to Multiple Industries
MINNEAPOLIS, Nov. 26, 2012 /PRNewswire/ -- FICO (NYSE:
FICO), the leading provider of analytics and decision management
technology, today announced it has acquired CR Software, LLC, a
leading provider of enterprise-class collections and recovery
solutions for credit issuers, government organizations, collection
agencies, retailers, healthcare providers and other enterprises.
The transaction has closed, and terms are not being disclosed.
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Established in 1984, CR Software has more than 28 years'
experience implementing collections and recovery solutions. CR
Software currently supports more than 300 public and private
organizations, including the State of
Oregon, the State of
Mississippi, the State of
Maryland, NCO, Schumacher Group, Sallie Mae, and Genpact.
CR Software's principal product, the Titanium ORE™ (Open
Receivables Environment) solution, offers business-user driven
configuration, industry-specific functionality, scalability and
security unlike any other software provider. Titanium serves as a
System of Record (SoR), a true extension of the user's host system,
and simplifies, automates and coordinates collections and recovery
operations across the enterprise, leading to higher returns.
Titanium's modern architecture enables real-time data integration
with virtually any client system. Organizations using Titanium run
the gamut from large organizations with many thousands of
concurrent users to companies with just a few active users, and
these clients have consistently achieved a high ROI with the
Titanium solution.
"CR Software is the ideal company to help FICO extend our
analytics-based collections and recovery offerings to multiple
industries, as well as credit grantors of all sizes," said
Will Lansing, FICO CEO. "Collections
efforts are increasingly being viewed as part of the customer
experience, with the quality of customer treatments affecting not
only short-term results but also long-term retention. Given our
domain expertise in this area, businesses across industries
routinely approach us for advice and best-in-class solutions. Now,
when combined with our Adeptra customer engagement capabilities and
our robust analytics tools and models, CR Software's products and
people will help us meet this demand and extend beyond our strong
position in financial services."
"FICO has long been a pioneer in providing advanced collections
and recovery solutions to the financial services industry, with
solutions built around FICO Debt Manager," said Martin Germanis, CR Software CEO. "Today,
organizations such as governments, healthcare entities, agencies
and retailers are demanding the same kind of enterprise-strength
solutions as financial services institutions, but tailored to their
specific needs. CR Software complements FICO's strengths and
expands FICO's portfolio with a solution that yields superior ROI
in multiple industries, the public sector and smaller collections
agencies."
For more information, visit www.fico.com/CRsoftware.
About FICO
FICO (NYSE:FICO) delivers superior predictive analytics
solutions that drive smarter decisions. The company's
groundbreaking use of mathematics to predict consumer behavior has
transformed entire industries and revolutionized the way risk is
managed and products are marketed. FICO's innovative solutions
include the FICO® Score — the standard measure of
consumer credit risk in the United
States — along with industry-leading solutions for managing
credit accounts, identifying and minimizing the impact of fraud,
and customizing consumer offers with pinpoint accuracy. Most of the
world's top banks, as well as leading insurers, retailers,
pharmaceutical companies and government agencies, rely on FICO
solutions to accelerate growth, control risk, boost profits and
meet regulatory and competitive demands. FICO also helps millions
of individuals manage their personal credit health through
www.myFICO.com. Learn more at www.fico.com. FICO: Make every
decision count™.
For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the
statements contained in this news release that relate to FICO or
its business are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially, including the success of the Company's Decision
Management strategy and reengineering plan, the maintenance of its
existing relationships and ability to create new relationships with
customers and key alliance partners, its ability to continue to
develop new and enhanced products and services, its ability to
recruit and retain key technical and managerial personnel,
competition, regulatory changes applicable to the use of consumer
credit and other data, the failure to realize the anticipated
benefits of any acquisitions, continuing material adverse
developments in global economic conditions, and other risks
described from time to time in FICO's SEC reports, including its
Annual Report on Form 10-K for the year ended September 30, 2012. If any of these risks or
uncertainties materializes, FICO's results could differ materially
from its expectations. FICO disclaims any intent or obligation to
update these forward-looking statements.
FICO and "Make every decision count" are trademarks or
registered trademarks of Fair Isaac Corporation in the United States and in other countries.
SOURCE FICO