SIA, an Italian IT provider, acquired 75% share control in Perago, the South Africa-based financial software company.
The companies will merge software and maintenance development operations. Perago’s software capabilities include a real time gross settlement and government securities registration system and settlement software systems.
Riksbank, the Central Bank of Sweden, was the first to sign on after SIA purchased control of Perago. Riksbank plans to work with SIA in developing a second generation RTGS system, which will replace the current RIX system.