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IBM to Acquire ALGORITHMICS from Fitch Group

IBM is after Algorithmics in a deal valued US$387 million, that is to bolster its risk management offerings in light of increasing regulation in the financial markets.

Algorithmics, founded in 1989, is owned by the Paris-based holding company Fimalac and is a member of the Fitch Group, the company said.  It provides analytics software and advisory services to 25 of the top 30 banks, including HSBC, Societe Generale and Nedbank, as well as insurance and investment companies, according to a news release.  The company’s software is used to analyse credit and capital risks as well as risk in markets and according to IBM, there is demand for risk analysis following regulations imposed after the global financial crisis.

Source:  Poten and Partners

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