Fair Isaac to Buy London Bridge Software

Fair Isaac Corp., San Rafael, Calif., and London Bridge Software Holdings PLC, London, have announced an agreement on the terms of a recommended cash offer by Fair Isaac to acquire the ordinary shares of London Bridge.The offer will be 0.95 British pounds in cash for each issued and to-be-issued ordinary share of London Bridge, which amounts to an estimated 166.2 million British pounds (approximately $299 million), the companies reported. Fair Isaac, which produces FICO credit-risk scores used by the mortgage industry, said it believes it can "leverage London Bridge's installed base of customers for collections and recovery to deliver collections-focused scoring solutions." London Bridge's software includes The Mortgage Originator and various products related to collections, recovery, and default management. Fair Isaac can be found online at http://www.fairisaac.com.