IBM has signed an agreement with Dexia and several major financial institutions in Europe to build and manage their IT infrastructure previously managed by Associated Dexia Technology Services (ADTS). As a result of this agreement, IBM takes a controlling share in ADTS establishing an IBM company, renamed as Innovative Solutions for Finance (ISFF), with signed sourcing contracts at a total value of 1.3 billion US Dollars over seven years. With this agreement, IBM will implement a cloud infrastructure to expand ISFF services into new markets and optimize the efficiency of its existing information technology management.