Fair Isaac buys fraud detection service Infoglide

Fair Isaac scores more financial security technology with acquisition of Infoglide Software

Associated Press

SAN JOSE, Calif. (AP) -- Credit-scoring specialist Fair Isaac Corp. said Monday that it bought fraud detection service Infoglide Software as part of an effort to help banks and insurers uncover criminal activity.

Financial terms weren't disclosed.

Privately held Infoglide, based in Austin, Texas, makes technology designed to ferret out attempts to launder money and submit bogus insurance claims. Banks, insurance companies and government agencies, including the Department of Homeland Security, are among its customers.

Fair Isaac, based in San Jose, Calif., plans to add Infoglide's tools to its existing fraud protection applications. They supplement analytical tools that Fair Isaac sells to help lenders assess the creditworthiness of prospective borrowers.

Fair Isaac shares fell $1.24, or 2.7 percent, to close at $44.45.

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