IBM Buys Algorithmics for $387 Million

Looks like IBM is on an end-of-summer acquisition spree. Yesterday the company purchased I2, a security intelligence analytics provider. And today, it announced plans to buy Algorithmics, a Toronto-based financial risk analytics software and advisory service. Price: $387 million. IBM says the acquisition, which is subject to regulatory approval, will bolster its risk management offerings during a time of increased regulation of financial markets.