COLT signed a 10-year contract, with an annual value of several million Euros, to provide a data center and managed services to an un-named major financial institution.

Specific details of the contract remain confidential.

COLT will provide a purpose-built 1,000 square metre facility at its newest UK data centre, just outside the M25, which was opened in late 2007.

The data center is being built out in phases, using the latest data center technology, to meet particular demand from the financial services sector for minimal latency connectivity to the City of London, as well as high security, dedicated power and low environmental impact.

Detlef Spang, Managing Director, Major Enterprise Division at COLT said, "This new contract confirms our continued leadership in the data centre and managed services market. In today's economic environment, we are seeing marked demand from customers, both in the UK and across Europe, for high quality managed and outsourced services. These services are key in helping businesses reduce capital expenditure and improve the overall efficiency of their IT organisation."

COLT operates 18 data centres located in European's leading business centres.