If there were any doubt, Fair Isaac Corp. underlined its commitment to growth through acquisitions in January. That was when the software and services company that scores your creditworthiness hired Gresh Brebach as vice president for corporate development. Like Fair Isaac CEO Tom Grudnowski (who had been handling most of the company's dealmaking), Brebach had a long career at the former Andersen Consulting. More recently, Brebach worked for McKinsey & Co., where he led the North American information technology practice, and as an independent consultant.
Qualified to hit the ground running, Brebach promptly did so. In May, Fair Isaac acquired the U.K.'s London Bridge Software Holdings plc - a provider of workflow management applications for financial institutions - for about $300 million in cash. Brebach "joined the company a few months ago but has already helped move the ball upfield ... on the London Bridge acquisition," Grudnowski said in a recent conference call. There will be more deals to come. Already enjoying significant share in mature markets, the 48-year-old company needs to add products and international sales, says JMP Securities LLC analyst David Scharf.
Fair Isaac paid a rich price - 3 times 2003 revenue and 40 times Ebitda - for London Bridge, which had reported slumping sales in recent quarters. - Brenon Daly
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