SS&C to Acquire Algorithmics Assets from IBM

SS&C Technologies Holdings, Inc. announced it has entered into a definitive agreement to acquire certain Algorithmics and related assets from IBM. Algorithmics provides risk analytics products and services for the financial services industry worldwide. The addition of Algorithmics will extend SS&C’s risk analytics and regulatory offering. The acquisition is expected to be completed in the fourth quarter, pending the completion of customary closing conditions. The acquisition adds over 200 clients, 350 employees and offices in 25 countries. Client types include banks, broker-dealers, asset managers, hedge and private equity funds and service providers.