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IBM closes acquisition of Algorithmics.

TELECOMWORLDWIRE-October 21, 2011-IBM closes acquisition of Algorithmics(C)1994-2011 M2 COMMUNICATIONS

Information technology company IBM (NYSE: IBM) has closed the acquisition of Algorithmics, IBM said today.

The acquisition , valued at USD380.2m, reportedly expands IBM's business analytics capabilities in the area of financial risk.

Algorithmics provides software and services for improved business insights at banks and investment and insurance organisations to assess risk and address regulatory challenges.

IBM said that Algorithmics' capabilities, combined with its recent acquisition of OpenPages, gives clients a full array of financial and operational risk technology offerings and services to help with these challenges.

Also, consistent with its acquisition strategy, IBM will continue to support Algorithmics clients while allowing them to take advantage of the broader IBM portfolio. With the closing of this acquisition, approximately 900 Algorithmics employees are expected to join IBM's Software Group.

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Date:Oct 21, 2011
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