Argentina's third largest private financial institution Banco Patagonia has signed an IT services agreement valued at $5.7 million with IBM.
Under the agreement signed last month, IBM will manage consolidation, virtualization, technology updates, implementation of a backup data center, and all administration and support services for the bank's servers. The new contract also will provide external storage for the bank's main data center, backup data center and for all critical services provided by IBM.
This agreement is an expansion of a 10-year, $15 million technology outsourcing agreement Banco Patagonia signed with IBM in 2005. Through that agreement, the bank put IBM in charge of operating its IT infrastructure and processing platform, which is managed from IBM's Technology Campus based in Martinez, Argentina