IBM to Acquire Algorithmics

IBM has agreed to acquire Algorithmics for $387 million.

Algorithmics is a risk analytics firm with operations in Toronto, Canada. The company’s risk analytics software and advisory services are used by banks, investment and insurance businesses to help assess risk, address regulatory requirements and make business decisions.

Algorithmics is a member of Fitch Group, which is majority owned by Fimalac, a holding company based in Paris. Fitch Group provides credit ratings, market analytics and services.

This acquisition expands IBM’s business analytics capabilities in the financial services industry.