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Headwaters MB Advised CR Software, LLC on its Sale to FICO

April 2012

DENVER, CO - Headwaters advised CR Software, LLC, a leading provider of enterprise-class collections and recovery solutions for credit issuers, government organizations, collection agencies, retailers, healthcare providers and other enterprises, on its sale to FICO (NYSE:FICO).

“We were pleased to work with the CR team and to achieve a strategic outcome,” said Jack Maier, Head of Investment Banking at Headwaters. “Under the leadership of Martin Germanis, Ed Wallen and Edz Sturans, CR built the industry-leading accounts receivable and collections management software platform and had become one of the leading independent financial technology providers.”

Terms of the transaction were not disclosed.

“The Headwaters team produced an outstanding result for all involved. They worked closely with us at every step of the way and provided senior leadership and guidance throughout. We made the right decision in selecting them as our partner.”
Martin Germanis
Chief Executive Officer
CR Software, LLC