Under the five-year deal, 110 permanent ANZ IT testing services employees based in Melbourne and another 250 in Bangalore will be "offered comparable roles with Capgemini with comparable entitlements," says a statement.

The contract, still in final negotiations and subject to regulatory approvals, sees Capgemini support approximately 800 technology applications and the delivery of more than 280 projects within ANZ. In addition to taking on work currently done inhouse, the vendor also replaces more than 40 external testing providers.

The move is part of ANZ's "2017 technology roadmap" which is seen as a key factor in the bank's "super regional strategy".

Anne Weatherston, CIO, ANZ, says: "The partnership with Capgemini will help deliver a step-change by more effectively and efficiently providing the IT testing services that support the delivery of major projects and ongoing technology programs."

Separately, CPM Braxis Capgemini, a Brazilian IT services firm 61% owned by the French vendor is selling a 22% stake to local bank Caixa. The bank's investment arm CaixaPar will spend around EUR128.4 million, including EUR48.4 million of new shares through a capital increase. Capgemini will continue to hold 55.8% of the venture on completion, which is subject to regulatory approval.

The agreement also sees CPM Braxis Capgemini secure a 10 year preferred IT supplier status with the bank, which plans to overhaul its systems.

Paul Hermelin, chairman and CEO, Capgemini, says: "This agreement is a key milestone for our expansion plans in Brazil and Latin America. We are delighted to become Caixa's IT preferred partner, and look forward to accompany this major Latin America financial company in the modernization of their IT systems, building on our leading position in the financial sector."