In general, acquisitions shouldn't affect your business's income statement, at least at first, since the transaction will be confined to the balance sheet.However, specific assets you obtain as part of the acquisition may have to be depreciated or amortized, which means at least part of their cost will make its way to the income statement.The loss-making bank, stung by non-performing property loans left over from Spain's financial crisis, booked a first-quarter loss of €137 million last month and has been trying to raise cash in recent weeks by reportedly looking to offload its stake in credit card company Wizink as well as its US subsidiary Total Bank.The deal also marks the first test of the ECB’s new rules on failing banks, designed to avoid taxpayer-funded bailouts and instead leave existing shareholders and creditors bearing the brunt of the losses.
The Spanish finance giant will complete a €7 billion rights issue to take on Popular’s debt and bolster its balance sheet.
Storage consolidation, also called storage convergence is a method of centralizing data storage among multiple servers.
The objective is to facilitate data backup and archiving for all subscribers in an enterprise, while minimizing the time required to access and store data.
Santander also expects the deal to create cost synergies of close to €500 million per year from 2020.
The forced sale to Santander has come after shares in Popular slumped more than 50% in the last week over concerns about its capital position.
In RAID storage consolidation, the data is located on multiple disks. This facilitates balanced overlapping of input/output (I/O) operations and provides fault tolerance, minimizing downtime and the risk of catastrophic data loss.