Neural Technologies Acquires FICO`s Liquid Credit for Telecom Solution

Tue Jul 14, 2009 1:41pm EDT
 
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Acquisition of FICO`s popular product and support staff expands Neural
Technologies portfolio of risk management solutions for telecom clients
MINNEAPOLIS--(Business Wire)--
Neural Technologies, a leading provider of risk management software solutions,
and FICO (NYSE:FIC), the leading provider of analytics and decision management
technology, today announced that Neural Technologies has acquired a key asset
from FICO, the LiquidCredit for Telecom solution. 

Current customers for FICO`s LiquidCredit for Telecom solution will experience a
seamless transition of their current services and agreement to Neural
Technologies. Further, Neural Technologies has offered employment to FICO`s 16
telecom division employees who support this solution, who are primarily located
in Norcross, Georgia. 

This acquisition will add considerable strength to Neural Technologies`
acclaimed portfolio of risk management products. The LiquidCredit for Telecom
solution is a web-based instant credit decisioning solution that provides
organisations with a rapid, precise assessment of risk with all the benefits
offered by a hosted solution, such as rapid implementation and reduced costs. 

Neural Technologies is committed to supporting the existing global customer base
for LiquidCredit for Telecom and to enhancing and extending the solution to a
wider global audience. 

Said Ian Gebbett, CEO of Neural Technologies` US operation, "The acquisition of
the LiquidCredit for Telecom solution will complement our existing world-class,
patented technology to deliver exceptional results in credit risk management.
The economic crisis has led to a heightened interest in solutions that provide
accurate, up-front assessment of risk, and we believe LiquidCredit for Telecom
will become a world leader of great interest to both our existing and
prospective customers looking to manage risk whilst growing the customer and
subscriber base." 

"We`re pleased to be able to place this solution and telecom industry experts in
the hands of a leading provider of risk management software solutions," said Dr.
Mark Greene, CEO of FICO. "While we`ve determined that certain aspects of our
telecom industry business no longer fit FICO`s long-term business strategy, we
will continue to support telecom service providers through offerings like our
FICO credit risk scores, custom analytics and other decision management
technologies that help them make their best customer decisions." 

Terms of the transaction were not disclosed. 

About Neural Technologies

Neural Technologies (Nt) has established itself as a leading provider of risk
management software solutions. Formed in 1990, the company has built upon a
foundation in neural analysis and design to provide quality products that
increase bottom-line returns for its customers. 

Nt's solutions empower organisations to minimise financial risk to their
business, providing comprehensive risk management capability in the areas of
fraud, bad debt, customer attrition, collections, revenue assurance and
security. 

Nt has twice been ranked in the Sunday Times Tech Track 100 league table of the
UK's top technology companies and was named Large Technology Supplier of the
Year 2008 by the British Computer Society. 

The company has a customer base of around 40 organisations worldwide, comprising
AT&T, Sprint, Brasil Telecom, T-Mobile, MTN, Zain, Telkom SA, Orange, 02,
VimpelCom, TDC, GE Money, Axtel, DiGi Malaysia, Maxis and Digitel. 

For more information, visit www.neuralt.com. 

About FICO

FICO (NYSE:FIC) transforms business by making every decision count. FICO`s
Decision Management solutions combine trusted advice, world-class analytics and
innovative applications to give organizations the power to automate, improve and
connect decisions across their business. Clients in 80 countries work with FICO
to increase customer loyalty and profitability, cut fraud losses, manage credit
risk, meet regulatory and competitive demands, and rapidly build market share.
FICO also helps millions of individuals manage their credit health through the
www.myFICO.com website. Learn more about FICO at www.FICO.com. 

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in
this news release that relate to FICO or its business are forward-looking
statements within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially, including the success of the Company's Decision Management strategy
and reengineering plan, the maintenance of its existing relationships and
ability to create new relationships with customers and key alliance partners,
its ability to continue to develop new and enhanced products and services, its
ability to recruit and retain key technical and managerial personnel,
competition, regulatory changes applicable to the use of consumer credit and
other data, the failure to realize the anticipated benefits of any acquisitions,
continuing material adverse developments in global economic conditions, and
other risks described from time to time in FICO`s SEC reports, including its
Annual Report on Form 10-K for the year ended September 30, 2008, and its
quarterly report on Form 10-Q for the period ended March 31, 2009. If any of
these risks or uncertainties materializes, FICO`s results could differ
materially from its expectations. FICO disclaims any intent or obligation to
update these forward-looking statements. 

FICO and LiquidCredit are trademarks or registered trademarks of FICO, in the
United States and/or in other countries. Other product and company names herein
may be trademarks or registered trademarks of their respective owners. 



Neural Technologies
Louise Penson, +44 (0)1730 260256
Senior Marketing Executive
Email: louise.penson@neuralt.com
or
FICO
John Emerick, 1-800-213-5542
Investor Relations
Email: investor@fico.com
or
Craig Watts, 1-415-492-5399
Public Relations Director
Email: craigwatts@fico.com

Copyright Business Wire 2009

 

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