IBM to Acquire ALGORITHMICS from Fitch Group

Posted by Joachim Bartels | Sep 5, 2011 | Analytics, BIG DATA, Credit Scoring & Decision System, Fitch Rating Agency, United States | 0 |

IBM is after Algorithmics in a deal valued US$387 million, that is to bolster its risk management offerings in light of increasing regulation in the financial markets.

Algorithmics, founded in 1989, is owned by the Paris-based holding company Fimalac and is a member of the Fitch Group, the company said. It provides analytics software and advisory services to 25 of the top 30 banks, including HSBC, Societe Generale and Nedbank, as well as insurance and investment companies, according to a news release. The company’s software is used to analyse credit and capital risks as well as risk in markets and according to IBM, there is demand for risk analysis following regulations imposed after the global financial crisis.

Source: Poten and Partners

About The Author

Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.