Add-on Acquisition • Financial Services

State Street Acquires International Fund Services

On February 12, 2007, State Street acquired financial services company International Fund Services for 4.5B USD

Acquisition Context
  • This is State Street’s 2nd transaction in the Financial Services sector.
  • This is State Street’s largest (disclosed) transaction.
  • This is State Street’s 2nd transaction in the United States.
  • This is State Street’s 1st transaction in New York.

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M&A Deal Summary

Date February 12, 2007
Target International Fund Services
Sector Financial Services
Buyer(s) State Street
Deal Type Add-on Acquisition
Deal Value 4.5B USD

Target Company

International Fund Services

New York, New York, United States
International Fund Services (IFS) is a division of State Street Alternative Investment Solutions which provides a complete suite of fund accounting, fund administration and risk services to hedge funds and private equity funds. The breadth and scope of our offerings allows State Street to develop individual solutions that can meet virtually any level of asset servicing requirements for clients with a range of size and complexity.
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Buyer Overview 1

Buyer

State Street

Boston, Massachusetts, United States

Category Company
Founded 1792
Sector Financial Services
Employees52,626
Revenue 12.9B USD (2024)
DESCRIPTION

State Street is a specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. State Street was founded in 1792 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 2 of 13
Sector: Financial Services 2 of 9
Type: Add-on Acquisition 1 of 8
State: New York 1 of 3
Country: United States 2 of 10
Year: 2007 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-28 CitiStreet

North Quincy, Massachusetts, United States

CitiStreet LLC is a US-based retirement plan and benefit service and administration company, with additional operations in Australia for more than 16,000 plans and 12 million participants.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-02 Currenex

New York City, New York, United States

Currenex®, Inc. (www.currenex.com) is the market and technology leading online global currency trading platform that links buyers and sellers worldwide and is open to all money market and FX market participants. Currenex provides instant access to the global foreign exchange and money market asset classes via five price discovery mechanisms across all currencies. Currenex delivers secure, reliable and comprehensive FX and loans and deposits trading from trade initiation, pricing and execution to confirmation, settlement and reporting

Buy $564M