Fair Isaac Corporation, a leading provider of analytics and decision technology, and Braun Consulting, Inc., a marketing strategy and technology consulting firm, announced this week an agreement on a plan for Fair Isaac to acquire Braun. The acquisition terms have been approved by both companies' boards of directors, and the transaction is expected to close in the fourth calendar quarter.
The acquisition will build upon Fair Isaac's marketing analytics offerings through the addition of Braun's proven customer management, product strategy and organizational consulting expertise. The move also will expand Fair Isaac's client base and presence in priority growth markets, including healthcare, retail and pharmaceuticals. Braun's senior management team, including founder and CEO Steven Braun, will remain with Fair Isaac and play integral roles in delivering the companies' combined marketing solutions and services to the marketplace.
Fair Isaac plans to leverage Braun's consulting practice to help executives who have a stake in the success of marketing efforts - including business unit leaders, operating managers and senior marketing executives - set the strategic context and direction for results-oriented Precision Marketing initiatives. Fair Isaac also expects that Braun's technology integration experience will help ensure customers realize the greatest benefit from its Precision Marketing solutions. Effective integration through a customized infrastructure can enable a business to execute analytics-influenced decision strategies at every point of customer interaction.
Under the acquisition agreement, the stockholders of Braun Consulting will receive $2.34 in cash for each share of Braun. Steven Braun also has agreed to vote shares representing approximately 48 percent of Braun's outstanding stock in favor of the acquisition. The transaction is structured as a merger, whereby Braun will become a wholly-owned subsidiary of Fair Isaac. The net cash value of the transaction is approximately $30 million after assumption of the Braun balance sheet, based on Braun's approximate 17,227,000 shares of currently outstanding stock. The transaction is expected to close in the fourth calendar quarter, subject to approval by Braun's stockholders.
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