Canada's National Bank Financial Group has agreed a seven year extension, worth C$450 million, to its IT infrastructure management deal with IBM.
The deal - an early renewal of a contract signed in 2001 - will see IBM manage the group's information technology infrastructure including mainframe, server management and end-user services.
The vendor will oversee the implementation of new server technologies, standardised processes and an integrated set of enterprise tools in a bid to simplify the bank's IT infrastructure.
Saad Toma, general manager, global technology services, IBM Canada, says the firm "will deliver cost-effective and flexible services in support of the Financial Group's growth strategies".
News of the deal comes just a week after IBM revealed it had won a similar contract extension, worth C$300 with another Canadian outfit, Sun Life Financial.
Also today, Big Blue said it has inked a six year IT outsourcing contract extension with Daishi Bank in Japan. IBM Japan will manage the operation and maintenance of the company's information system and the development and maintenance of the applications.
The new contract will extend the outsourcing scope to include planning support, operation and maintenance for the information system and applications.
Additionally, IBM will provide central processing unit and software resources according to the mainframe usage needed for accounting or information related operations.