Fair, Isaac and Co. and HNC Software Inc. announced today they will merge under the Fair, Isaac name in a deal worth an estimated $810 million based on Fair, Isaac's closing stock price of $64.09 on Friday. Under the agreement, owners of San Diego-based HNC will receive 0.346 shares of newly issued stock from San Rafael, CA-based Fair, Isaac for each HNC share they own. HNC will own approximately 35% of the total stock in the new company, and two HNC board members will join the Fair, Isaac board, bringing the total number of members to nine, according to a statement. Tom Grudnowski will remain as CEO of Fair, Isaac. At an Internet conference this …
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