LITTLE ROCK and WHITE PLAINS, N.Y. — Alltel Corp. and International Business Machines Corp. said Tuesday that they have formed a joint venture company to provide core banking software to financial institutions in Europe.

IBM has taken a minority equity stake in Alltel Corebanking Solutions, which will be based in London and be known as Alltel Corebanking Solutions. Alltel is to be responsible for marketing, developing, and maintaining the product, and IBM will oversee sales and implementations. Initial target markets are Germany and France.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.