Under terms of the deal, IBM GS will form a joint venture with Stockholm, Sweden-based Nordea to provide on-demand IT services, which will involve the transfer of some 900 IT employees by November 1 to the newly formed Transformation and Innovation center.
IBM will be responsible for managing and standardizing the desktops and network infrastructure, as well as automating tasks such as resource provisioning, asset tracking, workflow scheduling, and infrastructure monitoring services.
The outsourced operation has an annual IT budget of between $382.8 million (E330 million) and $394.4 million (E340 million), and this includes investment expenses valued at some $34.8 million (E30 million).
Nordea expects to generate significant cost savings over the lifetime of the venture. However these will mostly be over the final seven years of the deal once the initial transformation and investments costs have been worked through.
This article was based on material originally published by ComputerWire.
