The Canadian Imperial Bank of Commerce (CIBC) has extended its IT outsourcing contract with Hewlett-Packard (HP) through to 2013.
The outsourcing arrangement will be extended for an additional four years, which will take it to 2013.
HP says the total value of the contract is approximately C$1.4 billion over the next seven years. The agreement revises a previous contract initiated in 2002.
Under the new deal, CIBC will be responsible for its desktop support infrastructure, help desk and related network services, while HP will manage the bank's enterprise infrastructure, including Internet banking, branch tellers, ATMs, point-of-sale, wire payments and fraud detection systems.
HP is also responsible for data centre and network infrastructure management, host (mainframe and HP NonStop systems) and midrange transaction processing, application services, operating systems, storage and desktop messaging.