IBM, Dexia and Several Major Financial Institutions across Europe agree to a
1.3 Billion US Dollar Sourcing Deal for IBM to Build and Manage their IT
Paves Way for Cloud-based service delivery transformation
ARMONK, N.Y. and BRUSSELS, Dec. 6, 2013
ARMONK, N.Y.and BRUSSELS, Dec. 6,2013 /PRNewswire/ --IBM (NYSE: IBM) today
announced that it has signed an agreement with Dexia (Euronext: DEXB) and
several major financial institutions in Europe to build and manage their IT
infrastructure previously managed by Associated Dexia Technology Services
(ADTS). As a result of this agreement, IBM takes a controlling share in ADTS
establishing an IBM company, renamed as Innovative Solutions for Finance
(ISFF), with signed sourcing contracts at a total value of 1.3 billion US
Dollars over seven years. With this agreement, IBM will implement a cloud
infrastructure to expand ISFF services into new markets and optimize the
efficiency of its existing information technology management.
Associated Dexia Technology Services was founded in 2006 to deliver IT
services to financial institutions formerly within the Dexia Group, such as
Belfius Bank, Belfius Insurance and Banque Internationalea Luxembourg.
Karel De Boeck, Chief Executive Officer of the Dexia Group declared: "Since
2006 Dexia has shouldered and encouraged the development of ADTS providing
quality service for various entities formerly within the group. After a long
and careful selection process, Dexia has chosen a strong partner endorsing a
new industrial future for the company and its employees. At the same time,
this agreement is yet another significant step forward in the Group's orderly
The agreement enables Dexia and the ISFF clients formerly within the Dexia
Group to segregate themselves as customers and pursue their own business and
IT investment strategy.
The new cloud based infrastructure will deliver significant benefits for each
financial institution, including fast access to new and innovative services
that meet growing demand in Europe. The private cloud environment will enhance
risk management, improve service delivery levels and reduce operating cost.
IBM will leverage its market and technological expertise, as well as research
capabilities to transform the IT infrastructure of these institutions, gaining
significant levels of efficiency and competitiveness.
"Our integrated transformational approach, the introduction of new and
innovative technologies and solutions, like cloud and analytics and our
expertise in the financial sector will enable these customers to differentiate
themselves in an accelerated way versus their competitors in their respective
markets" says Bart van den Daele, General Manager Strategic Outsourcing, IBM
For more information about IBM: ibm.com
Media Contact IBM
IBM Director, ExternalCommunications – GTS
Yves Van Seters
IBM Media Relations Benelux
T: +32 478 27 10 33
Media Contact Dexia
Dexia SA, Head of Communication & Brand
Brussels: +32 2 213 57 97
Paris: +33 1 58 58 86 75
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