HNC Buys CompReview
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COSTA MESA — HNC Software Inc. said it has completed its acquisition of CompReview, a privately held Costa Mesa insurance information technology services firm, for 5.1 million shares of stock worth about $160 million.
HNC’s stock closed Monday at $31.44, down 6 cents a share, on the Nasdaq market. HNC Software said it issued about 4.9 million common shares and options for about 200,000 common shares in a private placement, as part of the transaction.
HNC plans to file for the resale of the shares issued in the merger. The company said its shareholders approved the acquisition Friday.
San Diego-based HNC develops and markets advanced decision software.
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