SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a Windsor, Conn.-based global provider of investment and financial services and software for the financial services and healthcare industries, is to acquire certain Algorithmics and related assets from IBM.
The amount of the deal, which is expected to be completed in the fourth quarter, pending the completion of customary closing conditions, was not disclosed.
Algorithmics’ cloud-based technology will integrate within SS&C’s platform and add micro-services.
Algorithmics provides risk analytic products and services for the financial services industry worldwide. The solutions deliver the risk analytics clients need to address the impact of business and regulatory changes; including:
- X-Value Adjustment (xVA),
- Fundamental Review of the Trading Book (FRTB),
- Standardized Approach for Counterparty Credit Risk (SA-CCR),
- Current Expected Credit Losses (CECL) and
- Targeted Review of Internal Models (TRIM).
Client types include banks, broker dealers, asset managers, hedge and private equity funds and service providers.
The acquisition adds over 200 clients, 350 employees and offices in 25 countries.
Founded in 1986 and led by Bill Stone, Chairman and Chief Executive Officer, SS&C provides some 18,000 financial services and healthcare organizations, from the world’s largest institutions to local firms, with products and services to manage and account for their investments.