Electronic Data Systems Corp has agreement in principle with Caixa de Barcelona for a strategic technologic alliance, Les Echos reported. The contract would have the General Motors Corp subsidiary paying $32m for 80% of Caixa computing subsidiary TecnoCaixa, which would continue to supply the bank’s computer services. Les Echos says TecnoCaixa expects turnover of about $168m over the next four years. Under the terms of the agreement, Caixa will cede its 25.5% share of the company IGR to Electronic Data Systems for some $5.6m. IGR will continue to manage Caixa’s telecommunications network, which is blessed with more than 2,500 transaction points.
