IBM Global Services has consolidated its position as the biggest IT services supplier to Portugal’s financial services sector by securing a 10-year, 150m-euro ($181m) deal with Banco Espirito Santo.
The contract comes just one month after IBM announced another 10-year deal with a similar value with another Portuguese bank, Millennium BCP. IBM also has long-term IT infrastructure management contracts with Banco BPI and Banco Santander Totta in the country.
Portugal’s largest bank, Caixa Geral de Depositos, works with Computer Sciences Corp to support its card processing system, and announced a three-year, 15m-euro ($18m) deal with Siemens Business Services in 2004 to manage its 19,000 desktops and 2,000 servers.
Under the terms of the deal with Banco Espirito Santo, IBM will manage the client’s systems infrastructure, rationalize its applications architecture, and provide business continuity and disaster-recovery services. The contract, which begins this month, is expected to cut the bank’s IT infrastructure costs by 25%.