FICO, a provider of analytics and decision management technology, today announced it has entered into a definitive agreement to acquire Adeptra, a provider of cloud-based customer engagement and risk intervention solutions based in Reading, England, and Norwalk, Conn.
Adeptra's SaaS (software-as-a-service) platform enables financial institutions and other businesses to take advantage of the explosion in mobile communication ito manage risk, fight fraud and improve the customer experience, all in real time. By using Adeptra's technology combined with FICO's decision management applications, businesses can move seamlessly from defining, changing, and testing decisions to executing and resolving customer interactions while improving customer outcomes.
FICO will acquire Adeptra for an all-cash purchase price of $115 million, subject to typical post-closing adjustments. The deal is anticipated to be completed in September. Adeptra is currently owned by a consortium of investors led by ABS Ventures.
FICO has had a successful relationship with Adeptra since 2002, and has been an Adeptra reseller since 2007. Together, the two companies have helped global banks cut their fraud losses by integrating FICO Falcon Fraud Manager with Adeptra solutions.
"For many of our clients, fraud protection and even debt collection have become important drivers of customer satisfaction and loyalty," said Will Lansing, FICO CEO, in a statement. "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."
Founded in 1996, Adeptra provides solutions that allow businesses to communicate with customers in real time, using voice, SMS, mobile applications, email, and other channels. 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. Adeptra's employees and management team will join FICO following the completion of the transaction.
"FICO is known worldwide for its superior decision management solutions that cross the customer lifecycle," said Tony McGivern, CEO of Adeptra, in the statement. "Combining the power of FICO and Adeptra is a fantastic move for our clients and for clients' customers. Together, we will develop the next generation of full-cycle decision management and risk intervention products along with a range of innovative new marketing and customer service solutions, all optimized for the mobile economy."