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ABN Amro to renew $1bn IBM, TCS and Infosys outsourcing deals - report

07 September 2010  |  11242 views  |  0 ABN Amro logo

ABN Amro is preparing to renew IT outsourcing contracts worth around $1 billion with IBM, Tata Consultancy Services (TCS) and Infosys Technologies, according to India's Economic Times.

The Dutch bank agreed a five year EUR1.8 billion combined deal with the three firms and Accenture and Patni Computer Systems in 2005, in a bid to make annual savings of EUR258 million from 2007.

IBM won the lion's share of the contract, getting around EUR1.5 billion to maintain ABN Amro's global IT infrastructure - including servers, storage systems, data centres and desktops. Infosys Technologies and TCS assumed responsibility for maintaining and supporting software applications.

Now the bank - which was nationalised in the wake of the global economic crisis - is set to renew with three of the original five vendors, says the Economic Times, citing three people familiar with the matter.

IBM has been retained for managing communication networks, desktops and computer servers. It is also working on integrating the ABN Amro IT systems with those of recently merged Fortis by 2012. Around 300 Fortis employees are moving to Big Blue under the deal.

Meanwhile TCS is already working on new projects for the bank and Infosys has a "deep relationship" with it, leaving Accenture and Patni in a "tight spot" a source told the paper.

ABN to renew $1 bn IT outsourcing deals - Economic Times

KeywordsOUTSOURCING

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