IBM wins C$450 mln contract with National Bank

TORONTO, April 16 Thu Apr 16, 2009 12:01am EDT

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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)