Under the terms of the contract, BT will manage Bristol-Myers Squibb’s local and wide area network infrastructure globally. As part of the agreement, BT will migrate these services to a state-of-the-art, high speed, Internet protocol (IP)-based global MPLS infrastructure.

Although financial details have not been disclosed, rumors are circulating that the contract could be worth around GBP270 million ($500 million) or more.

To be chosen for this contract by Bristol-Myers Squibb is a significant achievement for BT, said Ben Verwaayen, chief executive of BT. He added that the company’s commitment to Bristol-Myers Squibb reflects current contracts with customers such as the National Health Service (NHS) in the UK and with the Bavarian State Government.

BT Americas’ president and COO, Chuck Pol, meanwhile hailed the agreement as a landmark deal, which builds on successful relationships with Unilever and the American Stock Exchange, amongst others.