SS&C Technologies Holdings Inc. has completed its purchase of IBM Corp.’s Algorithmics technologies portfolio and related assets.
The acquisition, announced in September for undisclosed terms, adds to the Windsor financial-technology vendor’s risk analytics and regulatory offerings, and marks its second proposed tech deal in recent months. SS&C has a pending purchase of the Investrack investor-tools-and-services business of Middle East-basd Globacom Technologies.
Under the IBM deal, SS&C is set to add more than 200 clients — including banks, broker dealers, asset managers and hedge and private equity funds — 350 employees, and offices in 25 countries, SS&C Chairman and CEO Bill Stone said Monday.
Algorithmics’ cloud-based technology, used to address market, credit and liquidity risk, and capital management, will integrate within SS&C’s platform and add micro-services, Stone said.
“Enterprise risk is a growing concern for our financial services clients, and Algorithmics’ innovative, cloud-based approach delivers real-time predictive analytics,” Stone said in a statement.
SS&C a month ago said its third-quarter profits were up 67 percent due, in part, to a combination of higher revenue and lower estimated income taxes.
