SS&C Technologies to Buy Some Algorithmics Assets From IBM
September 25 2019 - 5:36PM
Dow Jones News
By Josh Beckerman
SS&C Technologies Holdings Inc. (SSNC) has agreed to buy
certain Algorithmics and related assets from International Business
Machines Corp. (IBM), expanding SS&C's risk analytics and
regulatory products.
The acquisition will add more than 200 clients and 350
employees. An SS&C statement didn't include the deal price.
Algorithmics products are used to analyze topics such as x-value
adjustment, fundamental review of the trading book and standardized
approach for counterparty credit risk.
In 2011, IBM bought Toronto-based Algorithmics for $380.2
million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 25, 2019 17:21 ET (21:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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