Jump to content

Algorithmics Inc.: Difference between revisions

Add links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
Bender the Bot (talk | contribs)
Bots
1,008,858 edits
m →References: clean up; http→https for The New York Times. using AWB
Nyxion303 (talk | contribs)
8,347 edits
Rescuing 2 sources and tagging 0 as dead.) #IABot (v2.0.9.5
 
(42 intermediate revisions by 28 users not shown)
Line 1: Line 1:
{{Short description|Defunct Canadian software company}}
{{Infobox company
{{Infobox company
| name = Algorithmics Inc, an IBM Company
| name = Algorithmics Inc
| logo =
| logo =
| type =
| caption = Proven Risk Solutions
| type =
| genre =
| genre =
| fate =
| fate =
| predecessor =
| successor = [[SS&C Technologies]]
| predecessor =
⚫
| foundation = {{Start date|1989}}
| successor =
⚫
| founder =
⚫
| foundation = {{Start date|1989}}
⚫
| defunct = 2019
⚫
| founder =
⚫
| location_city = [[Toronto]]
⚫
| defunct =
⚫
| location_country = [[Canada]]
⚫
| location_city = Toronto
| location =
⚫
| location_country = Canada
| location =
| locations =
⚫
| area_served = Worldwide
| locations =
| key_people =
⚫
| area_served = Worldwide
⚫
| industry =
| key_people = Michael Zerbs, Andrew Aziz, John Macdonald, Mina Wallace, Neil Bartlett, Cynthia Schyff, Kathy Faichnie
⚫
| products = [[Enterprise risk management]]
⚫
| industry =
| services =
⚫
| products = [[Enterprise Risk Management]]
| services =
| revenue =
| revenue =
| operating_income =
| operating_income =
| net_income =
| net_income =
| aum =
| aum =
| assets =
| assets =
| equity =
| equity =
| owner =
| owner =
| num_employees = 900
| parent = [[Fitch Group]] 2005-2011<br/> [[IBM]] 2011-2019, <br/> [[SS&C Technologies]] 2019-now
| num_employees = 900
| divisions =
| parent = [[IBM]]
| divisions =
| subsid =
| homepage = {{URL|algorithmics.com}}
| subsid =
⚫
| footnotes =
| homepage = {{URL|http://www-01.ibm.com/software/analytics/algorithmics/}}
⚫
| footnotes =
| intl =
}}
}}
'''Algorithmics''' was a [[Toronto|Toronto, Ontario]] based company founded by [[Ron Dembo]] that provided risk management software to financial institutions. Founded in 1989, Algorithmics employed over 850 people in 23 global offices,<ref>[http://investincanada.gc.ca/eng/industry-sectors/software/canadian_leaders/algorithmics.aspx Algorithmics: Global Leader in Risk Management Boasts Strong Canadian Roots]</ref> and served more than 350 clients, including 25 of the 30 largest banks in the world, and over two thirds of the CRO Forum of leading insurers.
'''Algorithmics''' was a [[Toronto]], [[Ontario]] based company founded by [[Ron Dembo]] that provided risk management software to financial institutions. Founded in 1989, Algorithmics employed over 850 people in 23 global offices,<ref>{{Cite web |url=http://investincanada.gc.ca/eng/industry-sectors/software/canadian_leaders/algorithmics.aspx |title=Algorithmics: Global Leader in Risk Management Boasts Strong Canadian Roots |access-date=2011-08-20 |archive-url=https://web.archive.org/web/20120320121356/http://investincanada.gc.ca/eng/industry-sectors/software/canadian_leaders/algorithmics.aspx |archive-date=2012-03-20 |url-status=dead }}</ref> and served more than 350 clients, including 25 of the 30 largest banks in the world, and over two thirds of the CRO Forum of leading insurers.


In January 2005, Algorithmics was acquired by [[Fitch Group]] for $175 million, which is also the parent company of [[Fitch Ratings]].<ref name="HOOVERS">[http://www.hoovers.com/company/Algorithmics_Incorporated/hshsti-1-1njht4-1njfaq.html "Algorithmics, Inc."], [[Hoover's]]</ref>
In January 2005, Algorithmics was acquired by [[Fitch Group]] for $175 million, which is also the parent company of [[Fitch Ratings]].<ref name="HOOVERS">[http://www.hoovers.com/company/Algorithmics_Incorporated/hshsti-1-1njht4-1njfaq.html "Algorithmics, Inc."], [[Hoover's]]</ref>
Line 41: Line 40:
In October 2011, Algorithmics was acquired by [[IBM]] for $387 million.<ref name="HOOVERS"/> IBM [[OpenPages]] and Algorithmics will be combined to form a new Risk Analytics pillar within the Business Analytics software division.
In October 2011, Algorithmics was acquired by [[IBM]] for $387 million.<ref name="HOOVERS"/> IBM [[OpenPages]] and Algorithmics will be combined to form a new Risk Analytics pillar within the Business Analytics software division.


Algorithmics was voted as the leading enterprise risk firm for market risk, economic capital risk calculation, risk dashboards and collateral management in [[Risk magazine]]'s 2010 Technology Rankings. Algorithmics was also selected as the best Risk Analytics Solution Provider in [[Waters magazine]]'s annual financial technology rankings. In 2011, Algorithmics won the [http://www.algorithmics.com/EN/news/awards/ Life and Pension Risk] award for Best Solvency II provider. In 2007, Algorithmics was selected as one of [[Canada's Top 100 Employers]], as published in [[Maclean's]] magazine.<ref>{{cite web|url=http://www.eluta.ca/einfo?en=Algorithmics+Incorporated&ri=6ce189d94123afd69c17a12f91304b6b&rk=30451ac9867c5cdcd44663552303e2b0|title=Reasons for Selection, 2007 Canada's Top 100 Employers}}</ref>
Algorithmics was voted as the leading enterprise risk firm for market risk, economic capital risk calculation, risk dashboards and collateral management in [[Risk magazine]]'s 2010 Technology Rankings. Algorithmics was also selected as the best Risk Analytics Solution Provider in [[Waters magazine]]'s annual financial technology rankings. In 2011, Algorithmics won the Life and Pension Risk award for Best Solvency II provider. In 2007, Algorithmics was selected as one of [[Canada's Top 100 Employers]], as published in [[Maclean's]] magazine.<ref>{{cite web|url=http://www.eluta.ca/einfo?en=Algorithmics+Incorporated&ri=6ce189d94123afd69c17a12f91304b6b&rk=30451ac9867c5cdcd44663552303e2b0|title=Reasons for Selection, 2007 Canada's Top 100 Employers|access-date=2007-07-13|archive-url=https://archive.today/20120801190905/http://www.eluta.ca/einfo?en=Algorithmics+Incorporated&ri=6ce189d94123afd69c17a12f91304b6b&rk=30451ac9867c5cdcd44663552303e2b0|archive-date=2012-08-01|url-status=dead}}</ref>

In December 2019, [[SS&C Technologies]] acquired Algorithmics from IBM for $88.8 million.<ref>{{Cite web|url=https://www.ssctech.com/about-us/news-events/press-releases/press-release/n/1110|title=SS&C to Acquire Algorithmics Assets from IBM|last=|first=|date=|website=www.ssctech.com|language=en-US|url-status=live|archive-url=https://web.archive.org/web/20190925213335/https://www.ssctech.com/about-us/news-events/press-releases/press-release/n/1110 |archive-date=2019-09-25 |access-date=2019-09-25}}</ref><ref>{{Cite web|url=https://washingtontechnology.com/articles/2011/09/01/ibm-algorithmics-buy.aspx|title=IBM brings another analytics company under Big Blue umbrella |last=Hubler|first=David|date=September 1, 2011|website=Washington Technology|language=en-US|access-date=2020-02-06}}</ref><ref>{{Cite web|url=http://www.finsmes.com/2019/09/ssc-to-acquire-algorithmics-from-ibm.html|title=SS&C to Acquire Algorithmics from IBM|date=2019-09-26|website=FinSMEs|language=en-US|access-date=2020-02-06|archive-date=2020-02-06|archive-url=https://web.archive.org/web/20200206103808/http://www.finsmes.com/2019/09/ssc-to-acquire-algorithmics-from-ibm.html|url-status=live}}</ref><ref>{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1402436/000156459020007695/ssnc-10k_20191231.htm|title=SS&C's annual 10-K form for 2019|access-date=2020-03-05|archive-date=2024-04-15|archive-url=https://web.archive.org/web/20240415204235/https://www.sec.gov/ix?doc=/Archives/edgar/data/1402436/000156459020007695/ssnc-10k_20191231.htm|url-status=live}}</ref>

==See also==
*[[SunGard]]


==References==
==References==
{{reflist}}
{{Reflist}}
* [https://www.nytimes.com/1995/05/13/your-money/13iht-mrtab.html A Program to Keep Tabs on Derivatives], [[New York Times]]
* [https://www.nytimes.com/1995/05/13/your-money/13iht-mrtab.html A Program to Keep Tabs on Derivatives], ''[[The New York Times]]''
* [http://www.informationweek.com/news/global-cio/showArticle.jhtml?articleID=55300525 PeopleSoft And Algorithmics Partner On Risk Management], [[Informationweek]]
* [http://www.informationweek.com/news/global-cio/showArticle.jhtml?articleID=55300525 PeopleSoft And Algorithmics Partner On Risk Management], [[Informationweek]]
* [http://www.informationweek.com/news/global-cio/showArticle.jhtml?articleID=55800911 Risk Vendor Algorithmics Acquired By Fitch], [[Informationweek]]
* [http://www.informationweek.com/news/global-cio/showArticle.jhtml?articleID=55800911 Risk Vendor Algorithmics Acquired By Fitch], [[Informationweek]]
* [http://www.fastcompany.com/magazine/26/riskybiz.html Risky Business], [[Fast Company (magazine)|Fast Company]]
* [https://web.archive.org/web/20090414214628/http://www.fastcompany.com/magazine/26/riskybiz.html Risky Business], [[Fast Company (magazine)|Fast Company]]
* [http://www.highbeam.com/doc/1G1-55377240.html Countering The Domino Effect], [[US Banker]]: "According to this accepted view, the top-tier vendors are: Algorithmics Inc., Toronto; Infinity Financial Technology Inc., New York; and MKIRisk"
* [https://web.archive.org/web/20121102221556/http://www.highbeam.com/doc/1G1-55377240.html Countering The Domino Effect], [[US Banker]]: "According to this accepted view, the top-tier vendors are: Algorithmics Inc., Toronto; Infinity Financial Technology Inc., New York; and MKIRisk"


==External links==
==External links==
*[http://www.algorithmics.com Company Site]
*[http://www.algorithmics.com Company Site] {{Webarchive|url=https://web.archive.org/web/20130718211021/http://algorithmics.com/ |date=2013-07-18 }}
*[http://www.ibm.com/software/analytics/algorithmics.html Parent Company Page]
*[http://www.ibm.com/software/analytics/algorithmics.html Parent Company Page]

{{Authority control}}


[[Category:Software companies of Canada]]
[[Category:Software companies of Canada]]
[[Category:Software companies established in 1989]]
[[Category:Companies based in Toronto]]
[[Category:Risk management companies]]
[[Category:Risk management companies]]
[[Category:Information technology audit]]

[[Category:2005 mergers and acquisitions]]

[[Category:2011 mergers and acquisitions]]
{{ict-company-stub}}
[[Category:IBM acquisitions]]
[[Category:Canadian subsidiaries of foreign companies]]
[[Category:2019 mergers and acquisitions]]

Latest revision as of 17:31, 26 December 2024

Algorithmics Inc
Founded1989 (1989)
Defunct2019
SuccessorSS&C Technologies
Headquarters
Toronto
,
Canada
Area served
Worldwide
ProductsEnterprise risk management
Number of employees
900
ParentFitch Group 2005-2011
IBM 2011-2019,
SS&C Technologies 2019-now
Websitealgorithmics.com

Algorithmics was a Toronto, Ontario based company founded by Ron Dembo that provided risk management software to financial institutions. Founded in 1989, Algorithmics employed over 850 people in 23 global offices,[1] and served more than 350 clients, including 25 of the 30 largest banks in the world, and over two thirds of the CRO Forum of leading insurers.

In January 2005, Algorithmics was acquired by Fitch Group for $175 million, which is also the parent company of Fitch Ratings.[2]

In October 2011, Algorithmics was acquired by IBM for $387 million.[2] IBM OpenPages and Algorithmics will be combined to form a new Risk Analytics pillar within the Business Analytics software division.

Algorithmics was voted as the leading enterprise risk firm for market risk, economic capital risk calculation, risk dashboards and collateral management in Risk magazine's 2010 Technology Rankings. Algorithmics was also selected as the best Risk Analytics Solution Provider in Waters magazine's annual financial technology rankings. In 2011, Algorithmics won the Life and Pension Risk award for Best Solvency II provider. In 2007, Algorithmics was selected as one of Canada's Top 100 Employers, as published in Maclean's magazine.[3]

In December 2019, SS&C Technologies acquired Algorithmics from IBM for $88.8 million.[4][5][6][7]

See also

[edit]

References

[edit]
  1. ^ "Algorithmics: Global Leader in Risk Management Boasts Strong Canadian Roots". Archived from the original on 2012-03-20. Retrieved 2011-08-20.
  2. ^ a b "Algorithmics, Inc.", Hoover's
  3. ^ "Reasons for Selection, 2007 Canada's Top 100 Employers". Archived from the original on 2012-08-01. Retrieved 2007-07-13.
  4. ^ "SS&C to Acquire Algorithmics Assets from IBM". www.ssctech.com. Archived from the original on 2019-09-25. Retrieved 2019-09-25.
  5. ^ Hubler, David (September 1, 2011). "IBM brings another analytics company under Big Blue umbrella". Washington Technology. Retrieved 2020-02-06.
  6. ^ "SS&C to Acquire Algorithmics from IBM". FinSMEs. 2019-09-26. Archived from the original on 2020-02-06. Retrieved 2020-02-06.
  7. ^ "SS&C's annual 10-K form for 2019". Archived from the original on 2024-04-15. Retrieved 2020-03-05.
[edit]
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Algorithmics_Inc.&oldid=1265384024"