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The deal offers iSoft shareholders 69p cash for each share, representing a 23 percent premium on iSoft's closing mid-market share price on 16 October, according to IBA.

Investment company Allco Equity Partners (AEP) also announced it will support IBA with AU$300m (�131m) for a combination of shares and convertible notes which are to be issued by IBA.

To help refinance some of iSoft's debt and for working capital expenses, AEP will commit a further AU$62m (�27m). However, the final amount is contingent on whether iSoft shareholders decide to take cash or IBA shares.

Besides facing rising interest payments on its �93m debt, it was reported that iSoft had been struggling to fulfil its contract to supply the Lorenzo system as part of the NHS's National Programme for IT (NPfIT). More>>

HBO is considering a broadband Internet channel that would be available to customers who subscribe to its cable television service. Chris Albrecht, HBO’s chief executive, told the FT that the company was talking to cable operators about an "HBO-like service" in which broadband customers could click on a branded menu and download the network’s programming.

However, Albrecht stressed that any Internet offerings would be launched in partnership with cable operators, which it relies on for subscriber fees, the main source of income for the advertising-free network. "What we’re hoping to do is to use the brand and to use new products similar to HBO On Demand to help [cable operators] drive their broadband penetration," Albrecht said. More>>