A Cloud Computing Based Service Delivery Deal of $1.3 Billion Struck Between IBM, Dexia and Other European Financial Institutes In Europe.

ibm-cloud-computingIBM (NYSE:IBM) succeeded in getting the contract for managing the IT infrastructure of many financial institutes in Europe including Dexia (EBR:DEXB). IBM will manage the IT infrastructure of these companies and will migrate the services in the cloud to pave the way for cloud based services of these financial organizations across Europe.

Greatresponder.com – This announcement was made public by IBM through a statement. The statement says that IBM will take charge of the IT infrastructure of many financial institutes operating in the European region to manage and transform it into the cloud based services. In this statement, General Manager Strategic Outsourcing at IBM Europe region Bart Van Den Daele elaborated the deal that “Our integrated transformational approach, the introduction of new and innovative technologies and solutions, like the cloud and analytics and our expertise in the financial sector will enable these customers to differentiate themselves in an accelerated way versus their  competitors in their respective markets”.

According to the spirit of this agreement, IBM will take the controlling share in Associated Dexia Technology Services or ADTS and will rename it as an IBM company called as “Innovative Solution For Finance” or ISFF. This contract will be valid over a time span of seven years and during this time period, the IT giant IBM would implement the modern cloud computing based technologies into the IT infrastructure of these companies and would upgrade the entire system to level. IBM will also pursue to expand the business of ISFF to new markets in the Europe by exploring the power of cloud computing and technological leadership in the industry.

It will also be the IBM’s responsibility to improve the efficiency of the existing networks and IT platforms of the companies to meet the modern demands of customers.

This agreement also enables both ADTS and ISFF to work as independent business units, which were operating under the umbrella of Dexia group. Now, they would be able to adopt their own financial strategies and IT investment strategies.

It was also anticipated in the statement that IBM would exploit its expertise, market position, and R&D capacity to transform the IT infrastructures of these financial institutes into the efficient and effective platforms by moving them in the cloud. This will be very beneficial for the financial organization to get the help of IT giant in their IT infrastructure.

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Maria Dehn

Maria Dehn has held editorial management positions for numerous print and Web publications. She has more than 17 years of Information Technologies and journalism experience and has written many reports on cloud computing. You can reach her on Twitter @MariaDehn