ARMONK, N.Y. (AP) -- IBM said Thursday it will buy risk analytics software maker Algorithmics for $387 million in a deal that expands IBM's offerings to the financial services sector.
Algorithmics, a Fitch Group company, provides software and advisory services used by banks, investment and insurance companies to assess risk and address regulatory requirements. Its 350 clients include The Allianz Group, BlueCrest, HSBC, Societe Generale and Scotia Capital.
IBM said the deal will expand its business and analytics capabilities in financial services by helping clients manage risk exposure in several areas. These include market, liquidity, credit, operational and insurance risk.
