Westpac Banking Corporation is facing an information systems integration bill of more than $220 million but would shave at least $43 million a year off its computing and communication costs under its proposed $18.6 billion acquisition of St George Bank.
The bill could rise even higher if Westpac used the integration as an excuse to replace its ageing core business systems, but broad similarities between the acquirer's computer platforms and its target's could also dull some of the potential for pain in the merger.
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