Who’s Next in Takeover Frenzy: Fair Isaac now in Play

MINNEAPOLIS – Shares in Fair Isaac & Co., maker of the ubiquitous FICO score, surged more than 7% Friday after a private investment fund called on management to either sell the company or consider taking it private. In a letter to Fair Isaac CEO Mark Green, Sandell Asset Management said it has acquired a 5% stake in the company, also called on Fair Isaac to hire an investment advisor to explore strategic alternatives. Shares in Fair Isaac rose $2.74 Friday, to close at a new high of $40.12, as the market was rife with takeover speculation. The speculation comes as one after another of third-parti service providers for credit unions is being snapped up in takeovers. Last week, eFunds, the processor for the credit union-owned CO-OP Financial Services, agreed to be acquired by Fidelity National Information Services. That followed takeovers of Open Solutions, Digital Insight, John H. Harland Co., Corillian, First Data Corp., Sallie Mae, and Bisys Group.