RESEARCH TRIANGLE PARK – IBM has sold a suite of risk management analytics products and will be moving some 350 employees as part of the deal.
Connecticut based SS&C Technology Holdings announced the deal on Wednesday but financial details were not disclosed.
The assets sold by IBM date to a 2011 acquisition of Algorithmics.
“Once the purchase is completed, SS&C will inherit over 200 existing IBM clients across the financial services industry, including large banks, brokers, asset managers, hedge funds and private equity funds,” tech news site CRN reported.
“It will also bring into its fold 350 former Big Blue employees and offices in 25 countries.”
The deal is one of several IBM has made in the wake of its $34 billion purchase of Raleigh-based Red Hat.
IBM operates one of its largest corporate campuses in RTP and employees several thousand people across North Carolina.
