IBM to buy Algorithmics for $387 mn

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

IBM to buy Algorithmics for $387 mn

IBM is to acquire Algorithmics for $387 million (Rs. 1,750 crore approx). IBM has claimed that 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.

Rob Ashe, GM, Business Analytics, IBM said, "The acquisition expands IBM's capabilities in the financial services industry by helping firms quantify, manage and optimise 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. Combining Algorithmics' expertise with IBM's deep analytics portfolio will allow clients to take a more holistic approach to managing risk and responding to economic change across their enterprises. Algorithmics' focus on credit, market and liquidity risk, as well as key customers in operational risk, will also help to strengthen and expand IBM's risk consulting services."

The deal is expected to end in October, positions IBM at the forefront of the risk analytics marketplace, as financial services companies struggle to assimilate and evaluate transactional information flows under the scrutiny of global regulators.


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