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November 9, 2005

EDS scores $108m outsourcing deal with Israel bank

Electronic Data Systems said yesterday that its Israeli subsidiary won an IT outsourcing deal with the First International Bank of Israel worth about $108m during the next eight years.

By CBR Staff Writer

Plano, Texas-based EDS said the outsourcing contract is the largest in Israel, in terms of financial size and scope of services, to date and the first in the Israeli banking industry.

Under the deal, EDS Israel will handle the banks’ IT operations, including its IT infrastructure and about 100 IT bank workers. EDS also will host the bank’s central, departmental and PC activity and manage its communications network.

The deal will enable the bank to significantly reduce its expenses and, in turn, increase revenue opportunities, said Yossi Levi, head of IT at the First International Bank of Israel, the country’s fifth largest banking group, in a statement.

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