IBM Services signs $540M deal with Nordea Bank

Business | Technology 1/8/2019, 2:00 PM
IBM Services signs $540M deal with Nordea Bank

International Business Machines Corp. (IBM) announced on Tuesday that its unit IBM Services signed a $540 million managed services deal with Nordea Bank. Under the multi-year agreement, Nordea Bank will outsource its IBM Z operations in five countries to IBM. Furthermore, a number of Nordea employees will transfer to IBM as a part of the agreement.

"As we continue to grow our long-standing relationship with Nordea, we are looking forward to working with them to drive their digital progress with IBM Services," Martin Jetter, senior vice president of IBM Global Technology Services, stated. "Our latest agreement will help Nordea accelerate its leadership as one of the largest financial services organizations in the Nordics and provide a solid path to bringing new efficiencies in their digital transformation," he added.

IBM shares rose 0.80% in premarket trading.

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