IBM Inks Outsourcing Deals Worth &#36;1B
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International Business Machines Corp. said Wednesday it signed a pair of outsourcing contracts worth more than &#36;1 billion with two Danish companies, continuing the computer giant's push into northern Europe.
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It seems like the season of big contracts. Dell recently bagged a biggie from Philips and now IBM gains one from the Britainâs retail bank, Lloyds TSB.
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IBM Corp. said Wednesday it is buying an Irish-based financial outsourcing firm, Equitant Ltd., as part of its transition from a computer-maker to a provider of financial outsourcing expertise.
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company's potential liability at &#36;1.7 billion. The company previously had estimated that a settlement could cost up to &#36;6.5 billion.
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BusinessWeek Online - The announcement sent ripples of anxiety through the tech world. On Sept. 15, J.P. Morgan Chase &amp; Co.  said that it was terminating a seven-year, &#36;5 billion technology-outsourcing deal with IBM. For many, it's an article of faith that corporations will gradually hand off ever more of their technology operations to big service providers such as IBM, Accenture , and Electronic Data Systems . Yet here was the nation's second-largest bank taking its tech back because it was strategically too important to be left to an outsider. ...
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NEW YORK - IBM Corp. lost one of its highest-profile outsourced-IT clients on Wednesday, as JPMorgan Chase & Co. said it is canceling the remaining portion of a contract that was intended as a seven-year, $5 billion deal.
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Companies provide details of plan to invest $300 million to challenge IBM's dominance in the market.
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NEW YORK, New York, United States of America -- International Business Machines (IBM) Corp has put its computer business up for sale, the New York Times said Friday, quoting people close to negotiations.
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(InfoWorld) - Indiaâs business providing software and services to companies outside its borders will grow a healthy 26 to 29 percent this year, the country's main trade association for that sector said Monday. Revenue from exports of software, services and business process outsourcing (BPO) will reach about $40 billion for the fiscal year that ends next March 31, according to data released Monday by the National Association of Software and Services Company (NASSCOM). Export revenue from these sectorsÂ grew 33 percent to $31.3 billionÂ in the fiscal year to March 31,Â according to data released by the trade body. The strong growth in software and services exports is coming from an improvement in India's competitiveness, and the addition of new services, such as remote infrastructure management, by Indian service providers, Kiran Karnik, president of NASSCOM told reporters in Bangalore on Monday. The revenue figure also includes exports to their parent companies and clients by Indian subsidiaries of multinational companies such as IBM, Oracle, and Accenture, that are expanding fast in India. Indiaâs overall IT industry grew by 30.7 percent in the year to March 31 to earn revenue of $39.6 billion, with the domestic market also growing by 22 percent to $8.2 billion, NASSCOM said. Many multinational companies including Hewlett-Packard and IBM have bagged outsourcing contracts from Indian companies. The Indian IT industry employed about 1.6 million staff as of March 31, besides about 6 million indirect staff employed in supporting the large offshore software development and BPO operations in India, Karnik said. About 1.2 million people are employed in developing software and running back office processes and call centers for customers abroad. The U.S. continues to be the largest market for Indian exports, accounting for 66 percent of revenue, Karnik said. Indiaâs IT industry is facing high staff attrition and salary increases, but that will not slow down growth, Karnik said. In the short term, NASSCOM, of Delhi, is helping set up finishing schools that will make more Indian graduates employable by the IT and the BPO industry, he said. In the long-term, though, NASSCOM is counting on more investments by government and industry in the education sector, he added. The IT industry in India is also grappling with the strengthening of the Indian Rupee against the US dollar, which pushes down realization in Rupees of revenue earned abroad by Indian companies. In the year to March 31, exports of IT services grew by 35.5 percent to $18 billion, while exports of BPO services grew 33.5 percent to $8.4 billion. Revenue from exports of engineering services, a classification that deals with non-electronic design services, grew by 23 percent to $4.9 billion.
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Work hard for the money IBM today rolled out 23 updated product and 11 professional services offerings for service oriented architectures (SOAs). Some use technology from recent and recent-ish acquisitions, Webify, BuildForge and Bowstreet.â¦
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As blue chip companies in developed marketsÂ scramble to outsourceÂ high-cost jobs to low-cost countries, one of the world's biggest technology companies -- IBMÂ -- seems content to keep more than 1,800 highly trained, well-paid IT engineers at its R&D (research and development) lab in BÃ¶blingen, Germany.
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(InfoWorld) - IBM Corp. has set up a new application services facility in India's north-eastern state of West Bengal, in a city that has emerged as one of the country's key software and services hubs. The new facility is in Kolkata, the capital of West Bengal, and is equipped to have about 3,000 staff, a spokeswoman for IBM India said. She could not give a timeframe for the expansion. Kolkata has emerged as a center for IT services because of the surprisingly business-friendly policies of West Bengal's communist government. A number of multinational companies and Indian outsourcers, with bases in Bangalore, Mumbai or Delhi, have expanded to Kolkata in a bid to tap new pools of talent. IBM already has three other delivery centers in the city, and it's home to IBMâs second-largest pool of employees in India after Bangalore. The Armonk, New York, company announced in June that it isÂ investing $6 billion in IndiaÂ over the next three years. It's part of IBM's strategy to grow its presence inÂ emerging markets such as China and Brazil, because they offer vast pools of staff and also because they are attractive markets themselves. IBM had about 43,000 staff in India as of June. It has hired more staff since then for its software and business process outsourcing (BPO) operations in India, according to industry sources.
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IBM Corp. lost one of its highest-profile outsourced-IT clients on Wednesday, as JPMorgan Chase & Co. said it is canceling the remaining portion of a contract that was intended as a seven-year, $5 billion deal.
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After internal documents revealed plans to send nearly 5,000 jobs to developing countries over two years, IBM became an easy target for critics of outsourcing. Will limiting layoffs take the sting out of moving these jobs abroad?
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IBM Corp. said Monday it has won a $1.4 billion outsourcing contract from AstraZeneca PLC, a seven-year deal aimed at helping the British pharmaceutical company manage its internal technology operations.
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IBM plans to announce that it will invest $US250 million ($350million) over five years and employ 1000 people in a new business unit to support products and services related to sensor networks and radio identification tags.
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IBM on Monday said fourth-quarter revenue, aided by exchange rates and sales outside the U.S., stood at $28.9 billion, an increase of 10 percent over the same period in 2006.