From: Steve Gallant firstname.lastname@example.org
Date: Wednesday, February 16, 2000 12:41 PM
Subject: HNC Software to Acquire the Center for Adaptive Systems Applications
Acquisition Advances Predictive Customer Relationship Management (CRM) Opportunities in Financial and Telecommunications Markets
SAN DIEGO--(BUSINESS WIRE)--Feb. 16, 2000-- HNC Software Inc. (Nasdaq: HNCS - news), a leading provider of predictive software solutions for business-to-consumer service companies, announced today that it will acquire the Center for Adaptive Systems Applications (CASA), an advanced analytics solutions company that provides account optimization and precision marketing solutions through an ASP delivery platform.
Upon the completion of the acquisition, HNC will acquire all of CASA's outstanding stock and other securities in exchange for approximately $24 million of HNC common stock, including shares subject to options and warrants that will be assumed by HNC in the acquisition. The transaction, which is currently expected to close in Q1 2000, will be treated as a purchase for accounting purposes.
Predictive CRM solutions can leverage real-time information technology to understand consumers at the individual and account level, predict behavior based on that understanding, and enable services industry companies to structure actions and strategies more profitability across all points of customer contact. Two examples of Predictive CRM applications are CASA's Adaptive Dynamic Marketing Solution, and HNC's SelectProfile(TM) solution.
Based in Los Alamos, New Mexico, CASA is a privately-held advanced analytical solutions company that applies leading-edge adaptive technology to complex business problems, including precision marketing, customer relationship optimization, and strategic risk management. CASA provides its Adaptive Dynamic Marketing (ADM) ASP solution to leading businesses to improve revenue and customer retention. CASA clients include leaders in financial, life sciences, government, and consulting industries.
For more information, see http://www.hnc.com.
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