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Thursday, September 01, 2011
IBM to Acquire Algorithmics For $387 Million

IBM is buying Toronto-based risk analytics software firm Algorithmics for $387 million in cash to enhance its financial services capabilities.

Algorithmics risk analytics software, content and advisory services are used by banking, 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, France.

This acquisition expands IBM's business analytics capabilities in the financial services industry.

Algorithmics risk advisers will enhance IBM's Business Analytics and Optimization practice. The Business Analytics and Optimization team has more than 8,000 consultants including 200 mathematicians with more than 500 patents and a network of analytics solution centers, backed by an overall investment of more than $24 billion in acquisitions in the last five years. Algorithmic's focus on credit, market and liquidity risk, as well as key customers in operational risk, will strengthen and expand IBM's risk consulting services.

The acquisition is subject to applicable regulatory clearances and other customary closing conditions. With the closing of this acquisition, approximately 900 Algorithmics employees will join IBM's Software Group, IBM said.

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