Question-and-Answer Session
Operator
(Operator Instructions) And your first question comes from the line of Greg Smith from Merrill Lynch. Please proceed.
Greg Smith - Merrill Lynch
Hi guys. Thanks for the results here.
Frank Martire
Thank you, Greg. Good morning.
Greg Smith - Merrill Lynch
Good morning. Can you just, I know, you are obviously only going to comment so much about '09. But there has been a number of transactions already out there that could potentially have some implications to you guys. Is there anyway to frame, how we should be thinking about, how some of the M&A out there might impact you in '09?
Mike Hayford
Yes, Greg, this is Mike. I'm assuming you are referring to Wachovia and Wells and that Citi deal. Let me just kind of put it in context. So, the large deals that are happening now as well as other deals obviously that happened throughout the year, we continually look at that relative to the impact on our business both current year and subsequent years.
So the one thing I can share is as we look at consolidation in the industry I think we have shared this over the years that is the one challenge we have in terms of organic growth. So, as we look at it ending '08 going into '09, while it’s always a challenge for us. We have had other years, where it's been a bigger challenge going into a budget cycle.
On the three specific deals that are out there, we don't know the outcome. We go into it fairly conservative, assuming we are going to loose some business. On the flip side, there is always opportunities and some of the entities, who are doing the acquiring, actually all the entities doing the acquiring have strong relationships with Metavante. And in some areas, we have relationships with both entities in similar product sets. We would expect obviously to retain that.
And in other areas, we think we will pick up business and in some areas, we expect to lose business. So on balance again, while we are looking at '09 and still going through the planning process, it’s not the worst year we have seen in terms of consolidation. But nonetheless it's going to be an impact, as it is every year heading into that budget process.
Tim Oliver
This is Tim. I mean, I think, where we sit right now relative to last years planning process, the expectations for losses due to consolidation are very similar, very close to one another. And both of those numbers will be well below, where we sat two years ago coming into 2007.
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