HNC to Buy Risk Data

IRVINE — HNC Software Inc. said it has agreed to acquire privately held Risk Data Corp. for $61 million in stock.

Irvine-based Risk Data, founded in 1987, makes software for risk management and to manage workers’ compensation claims. The company’s customers include Cigna-Intracorp and Cal Comp.

San Diego-based HNC Software makes software used in electronic payments, financial services, direct marketing and market research. “We believe this is a key strategic acquisition that gives HNC an entry into another large and growing market,” said Robert L. North, president of HNC Software.