Mergers and Acquistions News
Categories: IT Services & Consulting
September 18th 2008, 15:31PM
The merger between two of the UK's biggest banks, Lloyds TSB and HBOS, will result in a massive consolidation and integration of IT infrastructure, it has been reported.
Lloyds TSB made the announcement this week when outlining the acquisition proposals.
It is thought that the merger will be worth in the region of £12 billion and will create a banking juggernaut with combined liquid reserves in excess of £80 billion.
Computing.co.uk reported that the IT integration will see an individual trading platform established for the group, while networks and data centres will also be consolidated.
It referred to the size of the task at hand as "significant".
In other mergers news related to the IT and media sector, A8 Digital Music's chief executive and chairman Liu Xiaosong announced this week that the firm is looking to expand on its natural growth rate by exploring the marketplace for a number of potential acquisitions.
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