IBM completes business negotiations with Algorithmics
IBM has completed a deal for Algorithmics.
IBM may have used merger and acquisitions consultants as it has completed a deal for Algorithmics.
Subject to regulatory approval, business negotiations will cost the former $387 million (£237 million) to take over the risk analytics firm.
Some 25 of the world's top 30 banks - including BlueCrest, HSBC, Nedbank and Nomura - currently use software created by Algorithmics and so the development offers IBM the chance to extend its capabilities.
Rob Ashe, IBM general manager of business analytics, said: "Combining Algorithmics expertise with IBM's deep analytics portfolio will allow clients to take a more holistic approach to managing risk."
He added the current economic situation means that organisations need to have a better understanding of their financial position.
Dr Michael Zerbs, president and chief operational officer of Algorithmic - which was founded in 1989 - observed clients will benefit from the link-up, while it will also let them see "business performance based on a deeper understanding of risk".
Posted by David Gleck