NU Online News Service, Aug. 14, 2:05 p.m. – International Business Machines Corp., Armonk, N.Y., has won a seven-year, $164 million contract to handle computer services for Sun Life Financial Services of Canada Inc., Toronto.

IBM will run Sun Life’s mainframe computers, midrange computers, network security services, electronic mail services and Web hosting services.

Sun Life is transferring 111 of its information-technology employees to IBM. Information about the company’s other IT employees was not immediately available.

IBM announced plans in February to run a similar outsourcing program for another major Canadian financial services company, Manulife Financial Corp., Toronto.