MutualFundWire.com: PFPC Acquires Blue Sky Firm

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Tuesday, May 30, 2000

PFPC Acquires Blue Sky Firm

PNC Financial's fund servicing unit, PFPC, has acquired Boston's Automated Business Development (ABD),

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a provider of Blue Sky compliance services to the mutual fund industry through its ClearSky and BlueLink products, the Pittsburgh company announced today.

ABD will retain its name and the firm, which currently employs 75, will become a subsidiary of PFPC, with its chief executive, Peter Lemay, remaining as president and chief executive officer.

The acquisition is expected to close in the second quarter. Terms of the agreement were not disclosed.

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