The Allianz Group has extended a deal with Equant to manage the company's IP VPN for three years at a cost of $7 million.
The contract is an extension of a partnership between the two organizations that began in 1999.
The financial services group is active in more than 70 countries with around 174,000 employees and has about 60 million customers worldwide. As part of a new IT strategy the Allianz Group has selected three strategic partners including Equant in a bid to reduce the number of service providers supporting the financial group's IT.
The company said Equant offers the insurer optimal geographic coverage, with 70 locations worldwide linked via Equant's MPLS-based IP VPN. Allianz Group spokesperson Franz Vojik, said the deal will improve efficiency by optimizing its communications infrastructure, improve security and generate significant cost savings.
"The Equant professional services team has assisted us with help and advice from day one," Vojik said.
Equant general manager Frank Sommerfield said he was delighted to have cemented the relationship with the Allianz Group through renewed cooperation.
Sommerfield said Equant has more than 1300 IP VPN clients worldwide.