The Fair Isaac Corporation, better known as FICO, recently acquired Infoglide of Austin. Infoglide is a software company that specializes in fraud detection for businesses and government agencies. Its client list includes members of the banking, healthcare, insurance, and retail industries, including the U.S. Department of Homeland Security, the U.S. Transportation Security Administration and JPMorgan Chase Bank.
FICO CEO Will Lansing stated, "With this acquisition we gain a strong foothold in the government sector for our integrated fraud management solutions, and can extend our advanced analytics into the areas of network risk assessment, security and compliance."
The merger promises to lead to further innovations in fraud detection for the future, and it is sure to promote changes in the months ahead.
Infoglide was backed by strong venture capital prior to the transfer, with $26 million from its investors. That does not match the $676.4 million in reported revenue that FICO earned last year, but it shows that the acquisition could be profitable for both parties. Infoglide will continue to operate as usual, but it will be making strong strides with FICO specifically. FICO hopes to take their fraud detection services to another level.
Infoglide's tools are already implemented in FICO's fraud management applications. The only changes now is the amount of implementation that will be put into place.
Infoglide's CEO Mike Shultz said, "No company compares with FICO for sophisticated fraud detection. Like FICO, we invested in innovation and we have more than 20 patents on our technology to prove it. Our partnership over the last two years has been an excellent trial run that demonstrated the value clients place on our combined offerings."
Consumers and companies alike will be even more protected as these two entities continue to work with one another.