Fitch buys Algorithmics

New angles

New York-based global ratings and risk management specialist Fitch Group has acquired Toronto-based enterprise risk management software supplier Algorithmics for $175 million. Under the agreement, Fitch’s risk software and advisory elements will be amalgamated with Algorithmics, which will also receive funding and support to further develop its product suite and risk management services.

Founded in 1989, Algorithmics has been a pioneer in the application of technology to enterprise risk

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