Cravath Reps IBM In $387M Algorithmics Buy

Law360, New York (September 1, 2011, 12:04 PM EDT) -- IBM Corp. said Thursday it had reached a deal to buy Algorithmics Inc., a financial risk analytics software and advisory company based in Toronto, for $387 million.

The deal, which expands IBM's business analytics abilities in the financial services industry, comes one day after the computing giant inked a deal to buy another business analytics firm — i2. IBM is buying Algorithmics from the Fitch Group, which is majority owned by Paris-based holding company Fimalac.

IBM has decided to amp up its analytics portfolio because it...
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