Fair, Isaac and Co. said it would buy Risk Management Technologies, a privately held company in Berkeley, Calif., for $46 million.
The acquisition, accounted for as a pooling of interests, is expected to be completed July 1. Risk Management Technologies, which sells software to banks, will become a wholly owned unit of San Rafael, Calif.-based Fair Isaac.
"The two institutions are highly complementary," said H. Robert Heller, executive vice president at Fair Isaac and the former president of Visa U.S.A.
He said Fair Isaac traditionally has focused on credit risk management at the retail level, while Risk Management specializes in enterprisewide interest rate risk. The companies plan to integrate their software to give the products a similar look and feel.
David LaCross, chairman, chief executive officer, and principal owner of Risk Management, said bank customers are seeking "with some degree of frustration" a single source for comprehensive risk management software.