Armonk-based IBM Corp. recently announced definitive agreements to acquire two data analysis companies for a reported combined total of some $900 million.
The companies ”“ i2 and Algorithmics ”“ are currently foreign-based, with headquarters in Cambridge, U.K., and Toronto, respectively.
The Algorithmics acquisition was valued at $387 million, with that price subject to adjustments at closing, and the value of the i2 deal, though not released by IBM, was reported by the Financial Times to be roughly $500 million.
Algorithmics, with some 900 employees, and i2, with 350 spread between the U.K., U.S., Canada and Australia, will both be incorporated into IBM”™s Software Group.
Algorithmics is a risk analytics company that primarily serves clients in banking, investment and insurance businesses by providing them with software, content and advisory services to help them assess risks, address regulatory requirements and make business-related decisions. Currently, Algorithmics is a member of the Fitch Group, which is majority owned by Fimalac in Paris.
In the i2 acquisition, IBM takes on a company that provides intelligence analytics for crime and fraud prevention in a number of industries, including banking, defense, health care, insurance, law enforcement, national security and retail.
