Algorithmics, which started doing business in 1989, has known relative stability in its product line, establishing its bona fides in the realms of market risk analytics and regulatory services. It’s on the M&A front that the changes have occurred.

In the 21^st century, the vendor has been acquired three times. At the start of 2005, Fitch Group bought Algorithmics for $175 million. Then, in late 2011, it was tech behemoth IBM acquiring Algorithmics for about $380 million. That pairing was also