IBM has acquired risk analytics firm Algorithmics for
$387m.
The acquisition means that 900 Algorithmics employees will join
IBM’s Software group – boosting IBM’s presence in the financial
services industry.
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Rob Ashe, IBM general manager, business analytics, said that the
acquisition would enable IBM to offer a more “holistic approach to
managing risk” to clients in the financial industry.
Algorithmics is used by more than 350 clients in the financial
services industry, including The Allianz Group, BlueCrest, HSBC,
Nedbank and Scotia Capital.
Dr Michael Zerbs, president and COO, Algorithmics said:
“It is increasingly important to deliver integrated solutions
that provide a deep understanding of risk and enable effective
decision support at the same time as meeting rapidly evolving
regulatory requirements.”
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By GlobalDataHe added: “Combining Algorithmics’ thought leadership,
technology, content and services with IBM’s globally recognised
analytics business will help a broader group of clients improve
their business performance based on a deeper understanding of
risk.”
