Global technology and innovation company IBM has acquired provider of software and services for risk assessment Algorithmics for $380.2 million. The takeover boosts IBM’s business analytics capabilities in the region of financial risk. Clients will benefit from Algorithmics’ functionalities, along with IBM’s recently acquired company OpenPages, to receive financial and operational risk technology offerings and services.
IBM and Algorithmics’ advanced analytics technologies and enhanced business processes will allow companies to evaluate operational risk associated with lending processes and market and credit risk exposures. Nearly 900 Algorithmics staff members will be transferred to IBM’s software group.
Click here for the release from Algorithmics.