Fitch completes Algorithmics acquisition

Source: Fitch Group

Fitch Group, Inc., a Fimalac SA company, has closed its acquisition of Toronto-based risk management firm Algorithmics.

The terms of the transaction are the same as those announced at the time of the signature of the definitive acquisition agreement in mid-December 2004. The acquisition price is US$175 million.

Algorithmics provides financial institutions with advanced enterprise risk management solutions that help them better measure and manage their financial risk.

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