IBM Inks Tech Services Agreement With ACE

ARMONK, N.Y. - 18 Jun 2009: IBM (NYSE: IBM) today announced it signed a $97 million information technology (IT) services agreement with the ACE Group (NYSE: ACE), a global leader in insurance and reinsurance. The revamped and extended contract will support ACE's infrastructure and application management environments in North America.

More specifically, IBM will provide mainframe, mid-range server, storage, network, and disaster recovery services as well as help desk, workstation, mobile device support, and application management services for a portion of ACE's portfolio. As part of the agreement, IBM will transform ACE's data center environment with consolidation, virtualization and standard tools and processes for improved service while lowering overall costs.

"We are pleased to continue our long-term IT services relationship with IBM and look forward to further service enhancements and cost efficiencies throughout our North American operations," said Kevin Shearan, Chief Information Officer, ACE Group.

"This contract further demonstrates IBM's commitment to providing ACE with world-class, high-value services," said William Smith, IBM Global Technology Services, general manager for Financial Services Sector. "By partnering with IBM, ACE will have access to the world's leading services technology and research, allowing ACE to significantly reduce overall IT operation costs and increase productivity while focusing on their core business and clients."

The agreement was signed on April 30, 2009, with services starting May 1, 2009, and extending to December 31, 2016. IBM global delivery centers in the United States, India, Brazil, Argentina and Canada will support ACE's IT operations.

Source: IBM (NYSE: IBM)