International Financial Data Services has bought Percana Group, an outsourcing services and software provider to the global life and pensions industry. The cost of the deal was not disclosed.
IFDS is the financial outsourcing joint venture between State Street Corporation and DST Systems and services a wide ranging group of international and offshore investment, insurance, life and pension and wealth management organisations.
Percana employs over 250 at its headquarters in Dublin. IFDS first acquired an initial interest in the company in 2008.
IFDS said the deal represents the next phase in its growth plans. 'The life assurance market is a key growth areas for IFDS, and the purchase of Percana brings an established and robust technology platform,' commented CEO Paul O'Neill.
