Fair, Isaac & Co., a leading provider of software and services to the consumer credit industry, has reached a preliminary agreement to acquire Dynamark Inc., a marketing services company.
The pending acquisition of privately held Dynamark is expected to be completed by year-end, officials at San Rafael, Calif.-based Fair, Isaac said. The transaction is valued at more than $5 million, they added.
Dynamark, based in St. Paul, Minn., is principally engaged in developing and managing marketing data bases and direct-marketing services for large financial institutions, advertising agencies, and merchandisers.
High Rate of Growth
The seven-year-old company also specializes in large-volume "personalized" printing for direct response advertisers.
Annual revenues, projected at approximately $9 million for 1992, have grown at a rate of 35% to 48% annually since the company's founding in 1985. It currently has about 125 employees.
Under terms of the preliminary agreement, Dynamark will retain its market identity and operate as a separate Fair, Isaac subsidiary. Dynamark founder and president Ken Rapp will continue in his present duties.
Larry Rosenberger, president of Fair, Isaac, said Dynamark was the first acquisition by the 36-year-old organization.
"Until now we've been a |build from within' company," he said.
"Working together will allow us to pursue opportunities that neither company could pursue individually."