IBM Pulls Off Coup Through Algorithmics Acquisiton

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IBM's business analytics headquarters in New York City.

Multinational technology and consulting firm IBM has announced an agreement to acquire Algorithmics, in a deal worth $387 million.

Algorithmics provides risk analytics software and advisory services to firms such as The Allianz Group, HSBC, Nomura, Societe Generale, and Scotia Capital. This move is designed to expand IBM's involvement in the financial services industry with a particular focus on risk technology, along with its acquisition of OpenPages last year.

"Today's economic environment

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