IBM Corporation Acquires Algorithmics

This year can probably be called one of the most active in terms of acquisitions. Many big players in the IT market have already managed to excel, and now there is news about IBM, which bought the Canadian company Algorithmics. The transaction value is $ 387 million, 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 related to the business sphere. Typically, Algorithmics customers are banks, insurance companies and investment companies.

The deal became known a day after the acquisition of i2 by IBM. This British company also produces software of an analytical nature, aimed at preventing all kinds of crimes and fraudulent transactions. As you can see, two deals relate to the purchase of companies that are engaged in similar fields of activity.

As for Algorithmics, the company employs 900 people, and Algorithmics customers are such major players in the insurance and exchange sectors as Allianz Group, Bluecrest, HSBC, Nedbank, Nomura, Societe Generale and Scotia Capital. IBM executives have already said that the purchase will allow the corporation to incorporate various risk management functions in the financial and insurance markets into its own software products.

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

Via AFP