Deutsche Bank AG has signed a 10-year outsourcing contract, valued at approximately US$2.5 billion, with IBM Corp., the companies said Wednesday in a statement.
Under the deal, IBM aims to save Deutsche Bank around US$1 billion in IT operating costs over a 10-year period, the companies said.
In September Deutsche Bank, in Frankfurt, Germany, had selected IBM without disclosing the amount of the outsourcing contract.
The IT infrastructure to be outsourced includes computer centers and smaller server sites in Belgium, Germany, Italy, Poland, Portugal, Switzerland, Spain and Luxembourg, according to the companies. IBM will take over employees in the respective countries and open a new data center in the Rhine-Main region, they said.