ABN AMRO and EDS today announced that they have reached an agreement on an IT outsourcing contract for ABN AMRO’s Wholesale Client (WCS) Strategic Business Unit.
The contract covers the provision of technology services and applications development in the major countries in which WCS operates.
Implementation of the agreement will take place after hurdles such as regulatory approvals and consultation with workers councils have been overcome. The phase in of services covered by the contract is expected to occur over the first months of 2003.
The total value of the contract is expected to be valued at EUR 1.3 billion (approximately $1.3B USD) based on a five year period. Further details of the contract are being made available at ABN AMRO’s 2002 results announcement, which is due to take place on 13 February 2003.