Saturday, October 22, 2011

IBM acquires Algorithmics: A Toronto-based developer of Risk Management Software

Full Story: Information Week

IBM has announced on Friday that it has finally completed a $300 million deal to acquire Algorithmics, a Toronto-based developer of Risk Management Software

Algorithmics is an essential software for organizations like banks, insurance companies, pension funds, and other financial services companies to assess risks in their operations through computer-based tools like Monte Carlo simulation. Algorithmics offers tools that allow its customers to conduct stress testing, compliance checks, and operational risk assessment, among other things. 

Read full story for details on deal and Algorithmics


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