IBM Completes Acquisition of Algorithmics
Posted: 21 October 2011
IBM (NYSE:IBM) announced the closing of its acquisition of Algorithmics.
The acquisition expands IBM's business analytics capabilities in the area of financial risk. Alogirithmics provides software and services for improved business insights at banks and investment and insurance organizations to assess risk and address regulatory challenges. The purchase price is $380.20 million.
Rob Ashe, IBM General Manager of Business Analytics said, "Integrated risk management continues to be a challenge across insurance and financial services industries, as data grows in complexity and new regulations continue to be introduced to address financial market trends. The combination of Algorithmics and recently acquired OpenPages, along with IBM's deep analytics expertise, delivers a comprehensive approach to managing risks, enabling clients to make better business decisions faster."
International Business Machines (NYSE:IBM) has potential upside of 8.4% based on a current price of $177.25 and an average consensus analyst price target of $192.11.