International Software Group Ltd has won a new OEM deal for its ISG Navigator integration tool from Algorithmics Inc, the Toronto-based risk management financial applications house. Algorithmics will embed Burlington, Massachusetts-based ISG’s Navigator into its Algo Suite of applications for improved information integration.
Previously, Algorithmics had used various methods of data access for its individual modules, which have evolved over time. Using the ISG software, it will come up with one consistent information infrastructure for the full suite, also accessible to its financial services customers. Beta versions are expected to be ready by year-end for Unix and NT systems, with commercial availability next year.
ISG sells direct and through OEM agreements, and earlier this year signed up Oracle Corp, which is tightly integrating and bundling Navigator into Oracle’s Oracle8i internet database. Oracle will begin shipping the combined product later this year. It has other OEM deals with Cognos Inc, Compaq Computer Corp and Computer Associates International Inc. The next version of Navigator, version 2.1, will add support for the XML Extensible Markup Language as a data source, and include additional applications connector functionality.
Algorithmics is a ten-year-old privately held company with 350 staff. It recently completed a new round of private financing worth $35m, in order to aggressively pursue new technology investments and acquisition opportunities. Its customers include over 80 global financial institutions and corporations.
