AXA in $1B 'on demand' deal with IBM

French insurance and financial services company AXA Group picked IBM Corp. to streamline its global IT systems in a six-year deal worth about US$1 billion, IBM said Friday.

IBM will help consolidate AXA's server, mainframe and storage systems into a new "on demand" computing structure. This will allow AXA to pay only for the capacity it uses and to quickly adapt its IT needs to its business needs, IBM of Armonk, New York, said in a statement.

AXA of Paris expects the move to a variable IT cost structure will save it several hundred million dollars over the six-year period, according to the IBM statement.

AXA will retain full management of its IT infrastructure and personnel, with IBM providing the IT capacity. IBM will train AXA staff and a dedicated team that is focused on aligning technology and business needs, IBM said.

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