Algorithmics completes US$380.2 million sale to IBM
October 21, 2011
380.20 Million USD
On October 21, 2011, IBM announced the closing of its acquisition of Algorithmics for US$380.2 million. The acquisition expands IBM’s business analytics capabilities in the area of financial risk.
Algorithmics' capabilities, combined with IBM's recent acquisition of OpenPages, gives clients a full array of financial and operational risk technology offerings and services to help with these challenges. The ability to gain granular insight into financial risks in advance provides businesses with critical information vital to their operations.
Algorithmics, headquartered in Toronto, Ontario, is a provider of software and services for improved business insights at banks and investment and insurance organizations.
IBM, headquartered in New York, New York, is a technology, services and consulting organization.
McCarthy Tétrault LLP represented Algorithmics, with a team led by Ian Palm.