Saturday 10 September 2011

IBM buys Toronto's Algorithmics for $387-million

U.S. IT company IBM (IBM-N161.37-3.88-2.35%) is buying Toronto-based risk analytics software firm Algorithmics for $387-million in cash to enhance its financial services capabilities.

IBM said the deal, expected to close before the end of October, expands its business analytics capabilities by helping clients manage financial risk.

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