Constellation Software Reaches Agreement with Fair Isaac Corporation to Purchase Its Collection and Recovery Business
FICO Collection and Recovery products automate the lifecycle of consumer collections and recovery, including early collections, late collections, asset disposal, agency placement and optimization, recovery, litigation, bankruptcy, asset management, and residual balance recovery. The specific products consist of: Debt Manager™, Platinum, RMS (Recovery Management System), Placement Optimizer℠, PlacementsPlus®, and Agency Management Network. Additionally, following the closing of the transaction, the senior leadership team dedicated to the Collection and Recovery business will remain as executive management of the business under
"We are proud of the FICO team that built and delivered these industry-leading products our clients rely on to make their collection and recovery processes efficient and effective," said
"We look forward to maintaining the standard of excellence that FICO has instilled in their solutions," said
The Collection and Recovery products represent less than 10 percent of FICO revenue. FICO expects the divestiture to have an immaterial impact on future operating profits. For this divestiture,
Certain statements herein may be "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual events to be materially different from any future events expressed or implied by such forward-looking statements. Words such as "may," "will," "expect," "believe," "plan," "intend," "should," "anticipate" and other similar terminology are intended to identify forward looking statements. Such forward-looking statements involve significant risks and uncertainties, including risks that the transaction will not be consummated within the expected time period, or at all, and the risk that conditions to the closing of the transaction may not be satisfied. These forward-looking statements should not be read as guarantees of future results, and will not necessarily be accurate indications of whether or not such results will be achieved, or when such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and are made as of the date hereof, and Constellation and FICO assume no obligations, except as required by law, to update any forward-looking statements to reflect new events or circumstances.
Constellation acquires, manages and builds vertical market software businesses that provide mission critical software solutions.
Jonas is a global provider of vertical market software solutions, serving a multitude of industries. As an operating group of
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in
FICO is a registered trademark of
Learn more at https://www.fico.com.
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Constellation Software Inc., Jamal Baksh, Chief Financial Officer, Tel: 416-861-9677, email@example.com, www.csisoftware.com; or Greg Jawski for FICO, Email: firstname.lastname@example.org, Phone: +1 212-601-8248