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  • Big Blue Buys Another Cloud-Ish Business

    December 9, 2013 Timothy Prickett Morgan

    IBM has promised Wall Street that it will have a $7 billion cloud business by the end of 2015, and it has gotten out the checkbook once again to help it along its way to that goal.

    Last week, IBM said that it has inked a deal with Dexia, a financial services company based in Brussels, Belgium, to take over the operations of its Associated Dexia Technology Services unit. ADTS is a service company not unlike IBM’s own Global Services that provides services to Belfius Bank, Belfius Insurance, International Wealth Insurers (IWI), Banque Internationale à Luxembourg (BIL), Dexia and Dexia Asset Management (DAM).

    As part of the deal, IBM is taking a controlling stake in ADTS and is changing its name to Innovative Solutions for Finance; the amount it spent for that stake was not revealed. But IBM did say that ISFF has contracts with the various entities formerly served by ADTS that are worth $1.3 billion over seven years.

    Dexia has been spinning off parts of itself in a slow-motion fashion since 2006, but ADTS was the common glue for these entities. Now, with IBM in charge, Dexia is getting out of the IT business and the units can pursue their own separate strategies as they see fit.

    “After a long and careful selection process, Dexia has chosen a strong partner endorsing a new industrial future for the company and its employees,” explained Karel De Boeck, chief executive officer of the Dexia Group, in a statement. “At the same time, this agreement is yet another significant step forward in the Group’s orderly resolution.”

    Exactly how the IT infrastructure for the former ADTS clients will change over time was not made clear, but there were plenty of references to “the cloud.” IBM did not reveal what systems these entities currently have installed. Several of the former Dexia units as well as Dexia itself have OS/400 and IBM i platforms.

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Volume 23, Number 42 -- December 9, 2013
THIS ISSUE SPONSORED BY:

ProData Computer Services
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Table of Contents

  • IBM i Installed Base Dominated By Vintage Iron
  • RPG And Java At The Crossroads
  • The Word Of The Day Is
  • Mad Dog 21/21: Pilots Of The Carob Bean
  • The Q3 Server Market And IBM’s Place In It
  • Reader Feedback On As I See It: Poisoning The Well
  • IT Hiring And Salaries On The Rise For 2014
  • IBM Gooses DS8870 Disk Array With Power7+ Chips
  • Big Blue Buys Another Cloud-Ish Business
  • Technically Speaking, SMBs Struggle To Compete

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