IBM to Acquire Algorithmics for $387M
IBM (NYSE: IBM) today announced a definitive agreement to acquire Algorithmics for $387 million, subject to price adjustments at closing. Algorithmics is a risk analytics firm with operations in Toronto, Canada. The company's risk analytics software, content and advisory services are used by banks, investment and insurance businesses to help assess risk, address regulatory requirements and make more insightful business decisions. Algorithmics is a member of Fitch Group, which is majority owned by Fimalac, a holding company based in Paris.
This acquisition expands IBM's business analytics capabilities in the financial services industry by helping clients quantify, manage and optimize their risk exposure across a range of financial risk domains including market, liquidity, credit, operational and insurance risk as well as economic and regulatory capital risk.
