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June 4, 1997updated 05 Sep 2016 12:36pm

IBM AUSTRALIA AND TELSTA IN TALKS TO SET UP JOINT VENTURE

By CBR Staff Writer

IBM Australia Ltd is in negotiations with Telstra Corp and Lend Lease Corp to set up a joint information technology venture in Australia. If the venture, known as ISSC Australia goes ahead it will offer database management services, combining IBM’s technology with government owned telecommunications group Telstra’s communication experience. IBM’s Australian unit will own 51% of the operation, Telstra 26%, and the remaining 23% stake would belong to property development and financial services company Lend Lease.

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