US-based analytics provider Fair Issac Corporation (Fico) has acquired UK-based risk intervention firm Adeptra, backed by a bank’s venturing unit, for an all-cash purchase price of $115m.
Adeptra is currently owned by a group of investors including Germany-based bank Deutsche Bank and UK-based peer Barclays Ventures, private equity investors ABS Ventures and AlpInvest Partners, venture capital firms Foresight Group and Advent Venture Partners, alternative asset manager Global Emerging Markets and debt provider Kreos Capital.
The deal is expected to be formally completed in September.
Adeptra provides a cloud-based SaaS (software as a service) platform that is utilised by more than half of the world’s top 50 banks as well as businesses in other sectors. SaaS allows clients to integrate new communication technology into their businesses while managing risk and fighting fraud.
The UK-based firm has worked with Fico since 2002, and has been an Adeptra reseller since 2007. Fico hopes that by integrating Adeptra’s technology with their own decision management systems, they can provide a smoother and safer user experience for the businesses that use its services.