SDC Udvikling, a provider of technology and services to banks in the Nordic region, has signed a new 10 year IT services contract, worth more than $200 million, with IBM.
The contract is an extension of a five year deal signed in 2002 for the management of SDC's data centre operations which mainly supported its banking clients in Denmark.
IBM says SDC's client list has since grown to twice its original size and now includes a number of Norwegian banks, creating a need for further capacity and services.
Henrik Søndermark, client solution executive, IBM Nordic, says: "As SDC's needs have changed so too has the IBM solution."
The new agreement will run through to 2015.
The deal is the second IT services contract secured by IBM in the European market this month. The vendor said earlier this week that it had received a five year contract, worth EUR200 million, from Spanish banking group La Caixa.