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Fair Isaac Buys HNC
Fair Isaac, a $330 million developer of credit scoring systems, has announced its purchase of HNC Software, a vendor of automated systems that predict human behavior, in a stock swap currently valued at $720 million.
HNC, which generated 2001 sales of about $230 million but lost money, provides analytic and decision management software using artificial intelligence and neural network technology to extract human behavior patterns from databases and customer transaction histories.
The two companies provide not only similar services, but serve similar clients: financial services, credit card, health care, telecommunications, and insurance companies use their software to track fraud, sales trends, and merchant risk.
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