TechTaffy

tech:

taffy

IBM Takes Controlling Share In Dexia’s IT Business

By TechTaffy Desk

IBM_cloudIBM has taken a controlling share in Dexia’s IT business. The company is taking over Associated Dexia Technology Services, and establishing an IBM company called Innovative Solutions for Finance (ISFF), with signed sourcing contracts $1.3 billion over seven years.

As part of the agreement between Dexia, and several financial institutions in Europe and IBM, Big Blue will be building and managing their IT infrastructure, previously managed by Associated Dexia Technology Services. IBM will also implement a cloud infrastructure to expand ISFF services into new markets, says the company.

Associated Dexia Technology Services was founded in 2006 to deliver IT services to financial institutions formerly within the Dexia Group, such as Belfius Bank, Belfius Insurance and Banque Internationale à Luxembourg.

Dexia is a Franco-Belgian financial institution active in public finance, providing retail and commercial banking services to individuals and SMEs, asset management, and insurance.

[Graphics courtesy: IBM]

Just in

Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.
Industry

Square expands offline payments globally

Payment processing company Square has announced the expansion of its offline payments feature to all hardware devices and countries.