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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13
OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (date of earliest event reported): JUNE 23, 1997
Commission File Number
0-16439
FAIR, ISAAC AND COMPANY, INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 94-1499887
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
120 North Redwood Drive, San Rafael, California 94903
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (415) 472-2211
ITEM 5. Other Events
On June 23, 1997, the Registrant closed the acqusition of Risk Management
Technologies as described in the press release attached hereto as Exhibit 99.1
and incorporated herein by reference.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release of the Registrant dated June 25, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FAIR, ISAAC AND COMPANY, INCORPORATED
DATE: June 27, 1997
By: /s/ Peter L. McCorkell
----------------------------------------------------
Peter L. McCorkell
Senior Vice President, Secretary and General Counsel
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Exhibit Index
To Fair, Isaac and Company, Incorporated
Report on Form 8-K dated April 23, 1997
Sequentially
Exhibit No. Exhibit Numbered Page
- ----------- ------- -------------
99.1 Press Release dated June 25, 1997. 4
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Exhibit No. 99.1
NEWS FROM FAIR, ISAAC NYSE SYMBOL: FIC
FOR IMMEDIATE RELEASE
Contact: Marc Friedland
Media Relations Specialist
(415) 491-7001
mfriedland@fairisaac.com
June 25, 1997
FAIR, ISAAC COMPLETES ACQUISITION OF
RISK MANAGEMENT TECHNOLOGIES
San Rafael, Calif. -- Fair, Isaac and Company, Inc. (NYSE: FIC) announced today
that it has completed the acquisition of Risk Management Technologies (RMT),
first announced on April 23.
Fair, Isaac and Berkeley, California-based RMT will combine complementary
strengths to help financial services firms make better use of institution-wide
data to improve decision-making and risk management. RMT is the leading provider
of enterprise-wide risk management and performance measurement solutions to
major financial institutions worldwide. Fair, Isaac pioneered the development of
credit scoring and automated credit decision systems used by most large U.S.
credit issuers and, increasingly, major lenders around the world. The
acquisition was accomplished through a stock swap valued at $46 million and will
be accounted for as a pooling of interests.
The acquisition enables Fair, Isaac to extend its franchise in providing
data-driven decision support to the financial services industry beyond its
current focus on individual customers. With RMT's products and services, Fair,
Isaac will now support an institution's entire financial risk management
operation. The acquisition puts Fair, Isaac in a leadership position in decision
support technology for total risk management, integrating interest rate risk
management with credit risk management.
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RMT will retain its name and market identity and will operate as a Fair, Isaac
subsidiary. RMT CEO David LaCross will continue in his present duties. RMT's
staff of approximately 50 will work from its offices in Berkeley.
RMT was founded in 1989 to provide comprehensive decision support systems to
major financial institutions. It provides a complete asset-liability management
product targeted at larger, more sophisticated institutions; data warehousing
tools; profitability analysis; transfer pricing; and other state-of-the-art
capabilities. RMT's client list includes both U.S. and international financial
institutions such as Chase Manhattan Bank, First Union, Wachovia, Wells Fargo,
the UK's Abbey National, ANZ Bank in Melbourne, and Sumitomo Bank in Tokyo.
Since 1956, Fair, Isaac has helped businesses turn data into useful information
for strategic decision making. Fair, Isaac pioneered the commercial development
of empirically derived predictive models for the credit industry and popularized
their use in lending decisions. Today, the company offers a full spectrum of
data analysis capabilities, predictive modeling, software, and consulting to the
financial services, health care, telecommunications, personal lines insurance
and direct marketing industries worldwide. Fair, Isaac has offices throughout
the United States and Europe as well as in Canada, Mexico, South Africa and
Japan. In addition to RMT, Fair, Isaac's principal subsidiaries are St. Paul,
Minnesota-based DynaMark, Inc. and Baltimore, Maryland-based Credit & Risk
Management Associates, Inc.
For the fiscal year ended September 30, 1996, Fair, Isaac reported net income of
$16.2 million or $1.27 per share on consolidated revenues of $148.7 million. The
company reported record earnings and revenues for the three- and six-month
periods ended March 31, 1997. For the first six months of the 1997 fiscal year,
net income was $9.58 million or $.74 per share on revenues of $88.0 million.
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