Nordea has inked a $540 million, multi-year managed services agreement with IBM that will see around 120 of the Nordic bank's staffers move to Big Blue.
Nordea has been working with IBM since 2003 but the new deal sees the bank outsourcing the majority of IBM Z infrastructure services in five countries to the vendor.
Around 120 Nordea employees, mostly based in Denmark and Sweden, will transfer to IBM.
Martin Jetter, SVP, IBM Global Technology Services, says: "Our latest agreement will help Nordea accelerate its leadership as one of the largest financial services organisations in the Nordics and provide a solid path to bringing new efficiencies in their digital transformation."
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