IBM Signs $540M services agreement with Nordic's Nordea Bank

Martin Jetter

Martin Jetter

ARMONK, N.Y. and KISTA, Sweden, Jan. 8, 2019 /PRNewswire/ -- Today, IBM Services (NYSE: IBM) announced that they signed a managed services agreement with Nordea, under which Nordea Bank will outsource its IBM Z operations to IBM.

The $540 million multi-year agreement continues to build on the success of the Nordea-IBM relationship that began in 2003.

By outsourcing its majority of IBM Z infrastructure services in 5 countries, Nordea will have continued access to the latest technology advancements, including cognitive services, while at the same time maintaining a sustainable IBM Z organization.

"As we continue to grow our long-standing relationship with Nordea, we are looking forward to working with them to drive their digital progress with IBM Services," said Martin Jetter [pictured], senior vice president, IBM Global Technology Services. "Our latest agreement will help Nordea accelerate its leadership as one of the largest financial services organizations in the Nordics and provide a solid path to bringing new efficiencies in their digital transformation."

As part of the agreement, a group of Nordea employees will transfer to IBM. The employees who are transferring to IBM will have an opportunity to be part of a leading technology company. More...