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September 26, 2019

SS&C buying IBM’s digital risk-analysis tools

HBJ File Photo SS&C CEO and Chairman Bill Stone.
By Gregory Seay

SS&C Technologies Holdings Inc. is buying IBM Corp.’s Algorithmics technologies portfolio and related assets to deepen the Windsor financial-technology vendor’s risk analytics and regulatory offerings -- its second proposed tech deal in a month.

The purchase, expected to close by year-end for undisclosed terms, will add to SS&C’s roster more than 200 clients -- including banks, broker dealers, asset managers and hedge and private equity funds -- 350 employees, and offices in 25 countries, SS&C Chairman and CEO Bill Stone announced Thursday.

Algorithmics' cloud-based technology, used to address market, credit and liquidity risk, and capital management, will integrate within SS&C's platform and add micro-services, Stone said.

"The companies we serve face a rapid pace of regulatory change and increasing need for integrated real-time and predictive analytics," Stone said.

SS&C did not say how many of IBM’s Algorithmics staff will join it. The company did not immediately respond Thursday to requests for comment.

Based in Armonk, N.Y., IBM is one of the world’s largest developers and providers of digital and computer technology and software.

This is SS&C’s latest pending technology acquisition.

Earlier this month, SS&C announced its pending purchase of the Investrack investor-tools-and-services business of Middle East-basd Globacom Technologies, a deal set to close at month’s end for undisclosed terms. 

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