Verisk Analytics Inc. has agreed to acquire LCI, a provider of bankruptcy risk prediction and management tools for banks and creditors.
When the transaction is complete, LCI, based in Burlingame, California, will become part of Argus, Verisk’s data and advisory services organization for financial institutions.
The purchase price is $151 million, which the announcement said is to be paid in cash to stockholders of LCI. The transaction is expected to close during the third quarter of 2017.
LCI develops bankruptcy data and consumer behavioral data, process automation software, expert services, and research to automate expensive processes in the bankruptcy life cycle.
Chris Lundquist, chief executive officer and president of LCI, said LCI is an “excellent fit” for Argus’s focus on advising creditors throughout the account management life cycle and assisting clients with regulation, bankruptcy, charge-off and debt collection.
For Argus, the combination will allow it to introduce a new decisioning algorithms and management workflow products, according to Nana Banerjee, group president of Verisk Analytics.
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