Algorithmics was a

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based company founded by

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that provided risk management software to financial institutions. Founded in 1989, Algorithmics employed over 850 people in 23 global offices, and served more than 350 clients, including 25 of the 30 largest banks in the world, and over two thirds of the CRO Forum of leading insurers. In January 2005, Algorithmics was acquired by Fitch Group for $175 million, which is also the parent company of

Fitch Ratings Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations (NRSRO) ...

."Algorithmics, Inc."
Hoover's In October 2011, Algorithmics was acquired by IBM for $387 million. IBM OpenPages and Algorithmics will be combined to form a new Risk Analytics pillar within the Business Analytics software division. Algorithmics was voted as the leading enterprise risk firm for market risk, economic capital risk calculation, risk dashboards and collateral management in Risk magazine's 2010 Technology Rankings. Algorithmics was also selected as the best Risk Analytics Solution Provider in

Waters magazine :''"Waters" is also the title of the official magazine of Vancouver Aquarium.'' ''Waters'' is a monthly controlled-circulation magazine specializing in the application of information technology in the capital markets, and is one of four brands co ...

's annual financial technology rankings. In 2011, Algorithmics won the Life and Pension Risk award for Best Solvency II provider. In 2007, Algorithmics was selected as one of Canada's Top 100 Employers, as published in

Maclean's ''Maclean's'', founded in 1905, is a Canadian news magazine reporting on Canadian issues such as politics, pop culture, and current events. Its founder, publisher John Bayne Maclean, established the magazine to provide a uniquely Canadian perspe ...

magazine. In December 2019, SS&C Technologies acquired Algorithmics from IBM for $88.8 million.

References

A Program to Keep Tabs on Derivatives
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The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

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PeopleSoft And Algorithmics Partner On Risk Management
Informationweek
Risk Vendor Algorithmics Acquired By Fitch
Informationweek
Risky Business
Fast Company
Countering The Domino Effect
US Banker: "According to this accepted view, the top-tier vendors are: Algorithmics Inc., Toronto; Infinity Financial Technology Inc., New York; and MKIRisk"

External links

Company Site

{{Authority control Software companies of Canada Software companies established in 1989 Companies based in Toronto Risk management companies Information technology audit 2005 mergers and acquisitions 2011 mergers and acquisitions IBM acquisitions Canadian subsidiaries of foreign companies 2019 mergers and acquisitions

See also

References

External links