Xansa, the outsourcing and technology company, and Barclays are pleased to announce that they are extending their relationship through a new arrangement with a minimum expected revenue of £75 million over five years.
This new arrangement will be delivered through the existing joint venture which is jointly owned by Barclays and Xansa with a shareholding split of 51:49 respectively.
The joint venture will continue to supply applications management and major change programmes to Barclaycard, and the joint venture contract has also been expanded to encompass some of the services currently delivered to the wider Barclays Group by Xansa.
This extension demonstrates Xansa's ability to deliver considerable benefits to clients through market leading commercial propositions, leveraging best practice process expertise. The expanded relationship will provide cost effective, quality services to Barclays, enabling the business to focus on growing its market share.
Xansa has been working with Barclays for over 15 years and became Barclays' first significant IT outsourcing partner when the Barclaycard joint venture with Barclays was established in 2002.
Commenting on the announcement, Gary Edwards, Senior Technology Officer, Barclaycard, said: "In such a highly competitive market it's more important than ever that Barclaycard is able to get new products to market quickly and deliver the best value and service to its customers. In Xansa we have a flexible and responsive partner that understands our business and works closely with us to ensure we deliver quality products and services to our customers as quickly and cost effectively as possible. We are delighted to be extending such a successful partnership."
Alistair Cox, Chief Executive, Xansa said today, "This contract extension is a great endorsement of our excellent and longstanding relationship with Barclays. It builds on our principles of shared success and of working in partnership to deliver real business benefit, beyond simple cost reduction. We are delighted to be Barclays' IT partner."