Investment bankers at JPMorgan Chase & Co (NASDAQ:$JPM) are raising intrigue across the market. Why? While merger and acquisition deal makers make their livings advising companies on mergers, sales, and spinoffs, JPM is working on an internal deal of its own.

Specifically, on Thursday the company revealed a plan to create a joint venture between its consumer and retail, and internet teams. The move is sparked by the ramp up of digital investments by large, traditional retailers who are facing stagnant growth and shrinking market share. For instance, Wal-Mart Stores Inc (NASDAQ:$WMT) recently acquired Jet.com (NASDAQ:$JTCMF), ModCloth and Bonobos; PetSmart (NASDAQ:$PETM) recently acquired an online pet store Chewy, and Target Corp (NASDAQ:$TGT) as well invested in the mattress company Casper.

Even a better example, is Amazon.com’s (NASDAQ:$AMZN)  recent acquisition of grocery giant Whole Foods Market Inc. (NASDAQ:$WFM). Evidently, the line between traditional brick-and-mortar and online retail is becoming more translucent than ever.

U.S. retail companies have spent $17 billion in 2016 alone in e-commerce acquisition, up 64% from 2012.

Global head of consumer and retail investment banking Madhu Namburi of the company confirmed the news in a memo sent to internal employees. Details on revenue shares within the joint venture are to be determined.

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