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May 2, 1997updated 05 Sep 2016 1:09pm

IBM ANNOUNCES $200M OUTSOURCING DEAL WITH PRUDENTIAL

By CBR Staff Writer

IBM Corp’s Global Services Division announced it has signed a five-year, $200m agreement with Prudential Insurance Co to provide applications maintenance and enhancement services for the company’s Prudential HealthCare business. The deal also calls for IBM Global Services to offer jobs to approximately 300 Prudential employees. Facilities will be established in Florida, California and New Jersey where the new IBM employees will work in groups focused on upgrading and maintaining applications in use by Prudential. Last September, the two companies signed a similar five-year contract worth $340m for IBM to provide IT services to Prudential’s Individual Insurance and Money Management groups (CI No 3,004). That deal also involved the migration of roughly 900 employees from Prudential to IBM.

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