September 1, 2011 – In its second analytics buy of the week, IBM announced it will acquire risk management analytics provider Algorithmics for $387 million.

Algorithmics offers risk analytics software and services for financial institutions and the public sector to assess GRC decisions. In a news release on the proposed deal, IBM stated it would sew Algorithmics’ solutions and services into another recent acquisition, OpenPages, as well as its existing portfolio in an effort to broaden its risk strategy stack.

Rob Ashe, IBM business analytics general manager, said in a news release: “Today’s economic environment demands that financial institutions have more cash on hand, a better understanding of their financial standing and the ability to deliver more transparency to stakeholders. Combining Algorithmics’ expertise with IBM’s deep analytics portfolio will allow clients to take a more holistic approach to managing risk and responding to economic change across their enterprises.”

The Algorithmics deal is subject to closing conditions. Upon the close of the deal, IBM stated it would take on Algorithmics 900 employees and more than 350 clients, which include HSBC and Societe Generale.

It was the second analytics deal in a week for Big Blue, as a day earlier IBM announced it was in the process of acquiring i2, a U.K. provider of intelligence analytics for crime and fraud prevention, for an undisclosed sum. In a news release on the Algorithmics deal, IBM stated it has spent $14 billion in overall acquisitions in the last five years.

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