Algorithmics cashes in on regulator demands

In the 12 months to January 2002, Algorithmics reported a 16% year-on-year increase in operating revenues. However, the privately held company is not releasing any details on its operating earnings and remains cautious on the timing of its initial public offering (IPO).

“A lot of the demand we are seeing is driven by non-negotiable regulatory requirements," said Michael Zerbs, Algorithmics' chief operating officer. “A number of European regulators, as well US regulators, are telling our clients

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