Cyber risk is a threat to every modern business, and those risks present themselves both directly and throughout organizations' extended supply chains. Those risks can impact companies, their customers, their supply chain partners, and their investors. At FICO, we built our industry-leading FICO Cyber Risk Score to help organizations in their efforts to measure, manage and reduce cyber risk. Today, I’m excited to share that Institutional Shareholder Services Inc. (ISS), the leading provider of high-quality data, analytics, and insight to the institutional investor and corporate issuer communities, has entered into a definitive agreement to acquire the FICO Cyber Risk Score business.
ISS empowers investors and companies to build for long-term and sustainable growth by providing high-quality data, analytics, and insight. ISS is a leader in the provision of investment solutions, most notably those identifying risks in the area of environmental, social, and governance (ESG). Cyber is one such risk, and it is an increasingly important risk for companies, boards of directors, and investors to measure and mitigate.
The team here at FICO is very proud of the FICO Cyber Risk Score. The recognition we’ve received from Chartis (FICO was named Cyber Risk Quantification Category Leader two years in a row) and the growing adoption of the Score have showcased the efficacy and the elegance of what we collectively built. The FICO Cyber Risk Score is a strong complement to other data and analytics that ISS provides companies and institutional shareholders regarding corporate risk. ISS had been looking for a cyber solution of quality in the marketplace for some time to further develop and incorporate into their ESG-related offerings, and we are confident that ISS will be a tremendous steward of the product.
To that end, ISS intends to continue to operate the business without interruption. The FICO employees who have been directly involved in the management, development, sales, and support of the offering are moving with the business and will become ISS employees upon the close of the transaction. Customers with questions should feel free to contact their FICO representative, and FICO will continue to field inquiries and provide support for the product through its regular channels through the close of the sale. ISS will provide any necessary transition information regarding the post-close operation of the business in coming days.