IBM (NYSE:IBM) today announced a seven-year agreement to manage select infrastructure and operational services in addition to the existing mainframe services for Sun Life Financial (Toronto:SLF.TO) (NYSE:SLF) in Canada and the U.S.
This transaction is valued at more than CDN$300 million over the seven-year term.
"IBM is focused on utilizing its people and business processes in support of Sun Life Financial's global growth strategy," said Saad Toma, general manager, Global Technology Services, IBM Canada. "Building on our strong historical delivery performance, our relationship is being extended further to provide new highly integrated, cost-effective and intelligent solutions to support Sun Life business goals."
This new agreement signed in March 2009 extends and expands upon a contract signed in 2002.