Spanish banking group Banco Sabadell is outsourcing the management and on-going development of its IT infrastructure to Hewlett-Packard (HP) under a 10-year deal worth around EUR80 million.
Under the agreement HP will purchase Netfocus, an IT service division co-owned by Banco Sabadell and Siemens.
The Netfocus tech unit will be integrated into HP's business in Spain and will be used to offer a new portfolio of services, including technology for implementing security technology such as digital signatures.
Jose Louis Pagès, VP and general manager, FSI sales and CI, HP, EMEA, says: "With the purchase of Netfocus, we will be able to offer highly innovative security solutions and services to all kinds of companies in the private and public sector."
The outsourcing deal includes on-going management of the bank's mid-range systems. The vendor is also implementing a service management system within Banco Sabadell and will set up a security competence centre for developing and rolling out financial applications.
The outsourcing agreement additionally encompasses a three-year service contract to reduce the Banco Sabadell's maintenance and printing costs and HP says it has already replaced printers, multifunctional equipment and desktop computers at the bank's branches and corporate centres.
Miguel Montes, general manager, IT and operations, Banco Sabadell, says the HP deal "is a pivotal element in the bank’s expansion and modernisation strategy".
In addition to this agreement a roadmap for the provision of further outsourcing, consultancy and support services is under development, says HP.