A CAMAC module for analyzing neutron multiplicities is discussed. Reduction in dead time over previous methods has been made possible by providing independent detector channels. A considerable reduction in circuitry has been achieved by utilizing RAM and PROM integrated circuits in a nonstandard fashion. Along with specially developed algorithms, the module has been able to successfully unfold overlapping multiplicity chains for count rates varying over three orders of magnitude.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">></ETX>