CSC (NYSE: CSC) in Australia announced today that leading wealth management company AMP Limited (ASX: AMP.AX) has extended its relationship with CSC for an additional five years to 2016.
The comprehensive services contract, signed during the fourth quarter of CSC fiscal year 2012, is worth more than AUD$220 million, and designed to support the merged operations of AMP and AXA Asia Pacific Holdings (AXA APH) Australia and New Zealand. The merger, which took place in March 2011, brought together two of the region's most established businesses.
Today's announcement expands a six-year, AUD$150 million contract signed in 2009, and continues the original engagement between the two companies that was formed in 1993. Currently, CSC provides AMP with fully outsourced managed infrastructure services for mainframe, midrange, network, desktop, service desk and cloud email service, as well as information and system security.
CSC's services will enable AMP to maximise efficiencies from the integration of all infrastructure services across the new AMP/AXA entity. CSC will continue to deliver advanced and consistent services across all AMP business units, and work has already begun on the technology integration of AMP and AXA.
"AMP and CSC have a longstanding relationship and have continued to work successfully together over the years," said Lee Barnett, AMP chief information officer. "With a proven track record of service delivery supporting business change, CSC was the obvious choice to assist AMP to support our integration program."
"This project spotlights the value of highly effective, collaborative relationships in supporting major corporate structural change," said Gavin Larkings, president, CSC Australia. "The value and tenure of this deal have not only set a benchmark for CSC's capabilities in the financial services sector, but for the outsourcing industry in Australia as a whole. CSC has been able to bring its vast store of AMP-specific expertise, as well as its global resources, to the table in support of this significant development in Australia's corporate landscape."