IBM To Acquire Algorithmics For $387M

Lisa Levin , Benzinga Staff Writer

September 01, 2011 4:38am Comments

International Business Machines Corp (NYSE: IBM) agreed to buy Toronto-based risk analytics software firm Algorithmics from Fitch Group for $387 million.

IBM is expecting the deal to close before the end of October.

IBM shares dropped 0.09% to $171.75 in after-hours trading.

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IBM To Acquire Algorithmics For $387M

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