IFDS take strategic stake in Percana
Wednesday, 17 September 2008

International Financial Data Services
(Ireland) Ltd has acquired what it describes as “a substantial minority interest” in Percana Group Ltd. Percana employs 100 people at its headquarters in Parkwest Business Park in Dublin from where it provides software, outsourcing and consultancy services to the life assurance and pensions industry.

IFDS Ireland is one of a series of joint ventures established between State Street Corporation and DST Systems, specialising in mutual fund services.

While Percana has grown substantially in the last number of years, the management of Percana has recognised that a significant global investor was required if the company was to achieve its ambitious growth targets. William Slattery, managing director of State Street Ireland, and Pat Concannon, chief financial officer for IFDS Ireland, will both join the board of Percana Group.

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