Amsterdam - According to Sify.com, Tata Consultancy Services, International Business Machines Corp and three other companies won a $ 2.22 billion order from ABN Amro Holdings NV to maintain and upgrade its global information technology network.
Infosys Technologies, Accenture Ltd and Patni Computer Systems Ltd will also get part of the five-year order, the Amsterdam-based bank said in a statement today.
The order would allow Tata Consultancy, Infosys and Patni to gain a foothold in large customer technology-infrastructure management and software development contracts that's now mainly given to US rivals such as IBM and Accenture. Overseas companies have been hiring aggressively in India to take advantage of the lower wages to compete against Indian rivals.
The five-year outsourcing contract with IBM would oversee IT infrastructure services for the bank worldwide. Under the agreement, the company is expected to assume management of the majority of ABN Amro's worldwide information technology systems including servers, storage systems and desktops.
The only exception is the IT infrastructure of the business unit wholesale clients, which was already outsourced to EDS in 2003, the bank said in its notice to Amsterdam Stock Exchange.
For the application support and enhancements to the bank, TCS and Infosys have been allocated to maintain selected applications across business units to serve bank appropriately.
After September one, the planning for phased transition commencement dates is expected for application support and enhancement, subject to consent of local regulators, the bank said, adding the implementation of the agreements will be phased over 18 months.
In addition, ABN Amro has chosen Accenture, IBM, Infosys, Patni and TCS as its preferred vendors for application development. These vendors would develop new applications across all business units of the bank.
Obama to allot largest incentive package of over $700 billion
Dec 21, 2008
Obama wants auto Industries to take hard steps to ease crises
Dec 20, 2008
China facing heat of economic breakdown
Dec 19, 2008
DDA housing scheme results out
Dec 16, 2008
Failures of States and Federal Govt., no funds to pay to unemployed
Dec 15, 2008
Bush Admin to intervene to prevent collapse of Auto Industry
Dec 13, 2008
Chidambaram may take charge of Finance Ministry
Dec 10, 2008
Barack Obama against Nationalization?
Dec 9, 2008
Sony to cut 8,000 Jobs to plan revised investment
Dec 9, 2008
Welcome Move by Reserve Bank’s slashing key interest rates
Dec 6, 2008
Obama vows to create 2 million jobs by investing on selected areas
Dec 6, 2008
General Motors to cut jobs, factories and executives pay
Dec 3, 2008
Thailand International Airport thrown open, flights resume
Dec 3, 2008
Obama to work with Bush to control the market slump
Nov 25, 2008
$306 billion Sop to save Citigroup?
Nov 24, 2008
India to take all steps to boost economy: Chidambaram
Nov 18, 2008
Consumers Feel Credit Card Crisis
Oct 29, 2008
Markets almost hit bottom, Sensex hits 3-yr low
Oct 25, 2008
Nifty plunges 10%; Bank, Oil, Metal, Realty slip over 10%
Oct 24, 2008
China rejects Zardari’s request for expanding Nuclear relations
Oct 17, 2008
Staff of Jet & Kingfisher get notices to reduce financial strain
Oct 15, 2008
Global Markets Jump
Oct 13, 2008
Senses bounces back, ends up 804 pts. ICICI goes fast
Oct 13, 2008
ICICI Bank is safe and secure, Govt. confirms
Oct 10, 2008
Global stocks miserably dived on Friday
Oct 10, 2008
Rupee goes low to 49.30 per US Dollar
Oct 10, 2008
Zimbabwe sinking, record inflation of 231 mn.percent
Oct 9, 2008
Japan to bolster its country’s faltering economy
Oct 9, 2008
US Admn. wants ownership stakes of banks to restore confidence
Oct 9, 2008
Bush signs legislating Indo-US Civil Nuclear Deal to change into law
Oct 9, 2008