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Zurich Financial Services Group is to sign a master agreement which will see it hand over its global data center infrastructure to services company CSC.
In a $2.9 billion deal due to last ten and half years CSC will centralise the data center estate and transform Zurich's existing data center environment into a fully modernized, flexible and highly virtualized operation.
The master agreement provides the framework for country specific deals to be subsequently entered into by the local entities of each party.
‘The potential total contract value is estimated to be up to $2.9 billion assuming the successful negotiation of all anticipated country specific agreements and the provision of the full scope of services in all the planned countries over the initial ten-and-a-half year term,’ a statement from CSC said. Under the terms of the agreement, depending on the country specific agreements entered into, up to approximately 1,000 Zurich employees will potentially transition to CSC during the first half of 2010. The relationship between Zurich and CSC began in July 2004 when the companies signed a seven-year, $1.3 billion applications outsourcing contract. In 2008, the scope of work expanded to include desktop services in Europe and North America.
Zurich Financial Services: In need of modernisation...
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Keywords: Zurich outsourcing, data center, centralisation, transition, billion, finance, financial services
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