IBM To Buy Algorithmics

Big Blue pays $387 million to acquire risk analytics firm from Fimalac.

International Business Machines Corp. has agreed to buy Algorithmics, a supplier of risk analytics software, for $387 million.

The purchase will add 900 employees to IBM’s team of more than 8,000 consultants in the business analytics unit, Armonk, New York-based IBM said in a statement today. Algorithmics, based in Toronto, is a member of Fitch Group, which is majority owned by Paris-based holding company Fimalac SA.

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