Algorithmics has announced that it has acquired VIPitech from Towers Watson. The acquisition is part of Algorithmics’ overall corporate strategy to grow its portfolio of risk-aware business applications that support clients’ decision making and business growth strategies.

Algorithmics acquired VIPitech’s software solutions, intellectual property, infrastructure and the VIPitech team, including development, support, sales and marketing. The terms of the acquisition were not disclosed and it is not expected to have a material impact on Algorithmics’ financial results.

The VIPitech solutions have a global client base with strong representation in Asia. They comprise two versions: a desktop modelling tool and an enterprise server version. Insurance companies and pension funds use the solutions to value and manage their business. The solutions support the production of comprehensive risk and value metrics which provide valuable management information to support decision making and regulatory reporting.

Dr Michael Zerbs, President and COO of Algorithmics, commented: “This acquisition is part of our strategy to extend our solutions beyond risk management into risk-aware applications that help our clients in their business decisions. The addition of VIPitech underscores Algorithmics’ commitment to providing market leading solutions to pension funds and insurers. Algorithmics’ clients already include more than half of the members of the prestigious CRO Forum and VIPitech has a broad spectrum of financial services clients, including many tier 1 to 3 insurers worldwide. VIPitech clients will benefit from Algorithmics’ renowned technology expertise, focus on sustained investment in R&D and client support capacity. We are delighted to welcome the VIPitech team and clients to the Algorithmics community.”