IBM bought Algorithmics

This year can probably be called one of the most active in terms of acquisitions. Many major players in the IT market have already managed to distinguish themselves, and now there is news about IBM, which bought the Canadian company Algorithmics. The transaction value is 387 million dollars, and these funds were spent on the acquisition of a company engaged in the production of analytical software. Algorithmics creates software that is related to areas such as risk management, analysis of information relating to the business sphere. Typically, Algorithmics clients are banks, insurance companies and investment companies.

The deal became known a day after IBM acquired i2. This British company also produces software of an analytical nature, aimed at preventing various kinds of crimes and fraudulent transactions. As we can see, two deals concern the purchase of companies that are engaged in similar fields of activity.
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As for Algorithmics, the company employs 900 people, and the clients of Algorithmics are such major players in the insurance and stock exchange sectors as Allianz Group, Bluecrest, HSBC, Nedbank, Nomura, Societe Generale and Scotia Capital. IBM management has already stated that the purchase will allow the corporation to introduce various kinds of risk management functions in the financial and insurance markets into its own software products.

According to representatives of IBM, they hope that the new software products of the company will allow different companies to more effectively manage risks. Financiers, representatives of the insurance sector will have at their disposal reliable products to improve their own work.

Via afp