NU Online News Service, Feb. 28, 10:19 a.m. – AXA S.A., Paris, has signed a six-year contract to buy computer services from International Business Machines Corp., Armonk, N.Y.
IBM will reorganize AXA's computer systems and deliver computing capacity and related services back to AXA on an "on demand" basis, IBM says.
IBM says the deal will help AXA convert technology costs into a variable cost, from a fixed cost. IBM and AXA estimate the contract will have a value of about $1 billion.
The contract calls for AXA to keep "management control" of the computer systems and AXA employees who have been running the systems.
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