Societa Interbancaria per I'Automazione (SIA) has signed a $36 million deal to provide access to its IP-based network infrastructure to Global Crossing for the delivery of Swift financial services to the Italian financial community.
Under the five-year agreement, SIA will remain the premier provider of Global Crossing-Swift services to Italian financial institutions within Italy. Outside of Italy, SIA will deploy managed network services on Global Crossing's global fibre optic infrastructure to Europe, North America, Asia and Latin America.
"We were looking for a way to expand our worldwide reach and outsource our network management needs while maintaining our position as Italy's most extensive network provider to financial institutions," says Renzo Vanetti, chief executive officer of SIA. "By partnering with Global Crossing, we can leverage our existing network while offering expanded international connectivity and a wider range of network services to a global audience," he adds.