Algorithmics Receives $60 Million in Financing, Starts Spending Immediately


TORONTO--AIG, CIBC Capital Partners, Morgan Stanley International and Royal Bank Capital Partners are providing Algorithmics with $60 million in private strategic financing. On the agenda are strategic acquisitions (see below), product development and repayment of existing debt.

"This investment from a very experienced group of current and new investment partners indicates the confidence they have in Algorithmics, our people, our market strategy coupled with our growth potential," says Ron

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