IBM wins C$450 mln contract with National Bank
TORONTO, April 16
TORONTO, April 16 (Reuters) - IBM (IBM.N) has won a C$450 million ($372 million) deal to manage information technology infrastructure for Canada's National Bank Financial Group (NA.TO), the tech giant said on Thursday.
The seven-year deal is an early renewal of a contract that was first signed in 2001. Its announcement comes a week after IBM won a similar deal worth more than C$300 million with Canadian insurance giant Sun Life Financial (SLF.TO) (SLF.N).
Services that IBM will provide National Bank include mainframe, server management and end-user services.
The aim is to simplify the bank's information technology infrastructure while making it more efficient and resilient, IBM said.
($1=$1.21 Canadian) (Reporting by Wojtek Dabrowski; editing by Rob Wilson)