IBM has entered into a definitive agreement to acquire Toronto-based risk analytics firm Algorithmics for $387 million, subject to price adjustments at closing.
Algorithmics risk analytics software, content and advisory services are used by banking, investment and insurance businesses to help assess risk, address regulatory requirements and make more insightful business decisions.
Algorithmics is a member of Fitch Group, which is majority owned by Fimalac, a holding company based in Paris, France.
This expands IBM's business analytics capabilities in the financial services industry by helping clients quantify, manage and optimize their risk exposure across a range of financial risk domains.