By Max Clarke
IBM (NYSE: IBM) have today entered a ‘definitive agreement’ to acquire the Canadian risk analytics firm, Algorithmics for an estimated $387 million, the company have announced.
This acquisition will expand 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, including market, liquidity, credit, operational and insurance as well as economic and regulatory capital.
“Today's economic environment demands that financial institutions have more cash on hand, a better understanding of their financial standing and the ability to deliver more transparency to stakeholders,” said Rob Ashe, IBM General Manager, Business Analytics.
“Combining Algorithmics expertise with IBM’s deep analytics portfolio will allow clients to take a more holistic approach to managing risk and responding to economic change across their enterprises.” IBM's agreement with Algorithmics reinforces that companies are looking to reduce independent silos to gain an enterprise-wide view of risks for strategic planning, operations and new growth opportunities.
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