Jun, 2002 : IBM, Sun Life to Sign $250 Million Outsourcing Deal
📅 - Canadian Information technology service provider IBM Canada Ltd. (ibm.ca) announced on Thursday that it has signed a letter of intent with financial services organization Sun Life Financial (sunlife.com), for IBM to manage a portion of Sun Life's information technology infrastructure.
The seven-year agreement, says IBM, is estimated to be worth approximately $250 million Canadian. Subject to the successful completion of negotiation, the company says it would expect to develop a definitive outsourcing agreement in July of this year.
As part of the agreement, IBM will support Sun Life Financial with a set of operational services including eServer zSeries and iSeries, email services and Lotus Notes applications, network security including intrusion detection services, Web hosting and disaster recovery.
"We are integrating our infrastructures, business systems and operations with the purpose of obtaining business and IT synergies," says John Wright, executive vice president and chief information officer, Sun Life Assurance Company of Canada. "Outsourcing this range of services to IBM is a sound and attractive integration strategy, and it will help us to better serve our customer and business needs."
The deal would also provide employment opportunities for approximately 120 Sun Life Financial employees currently working in the areas to be outsourced.
"IBM is delighted to be working with Sun Life Financial and further enhance our strong relationship," says Rick Horton, vice president, IBM Global Services, IBM Canada Ltd. "Having IBM integrate data centers and assume service responsibility will allow Sun Life Financial to focus on business integration while at the same time realize cost savings. Our solution will also allow the Sun Life Financial employees joining IBM to continue to work in their current cities, while at the same time provide new and challenging IT career paths."
The seven-year agreement, says IBM, is estimated to be worth approximately $250 million Canadian. Subject to the successful completion of negotiation, the company says it would expect to develop a definitive outsourcing agreement in July of this year.
As part of the agreement, IBM will support Sun Life Financial with a set of operational services including eServer zSeries and iSeries, email services and Lotus Notes applications, network security including intrusion detection services, Web hosting and disaster recovery.
"We are integrating our infrastructures, business systems and operations with the purpose of obtaining business and IT synergies," says John Wright, executive vice president and chief information officer, Sun Life Assurance Company of Canada. "Outsourcing this range of services to IBM is a sound and attractive integration strategy, and it will help us to better serve our customer and business needs."
The deal would also provide employment opportunities for approximately 120 Sun Life Financial employees currently working in the areas to be outsourced.
"IBM is delighted to be working with Sun Life Financial and further enhance our strong relationship," says Rick Horton, vice president, IBM Global Services, IBM Canada Ltd. "Having IBM integrate data centers and assume service responsibility will allow Sun Life Financial to focus on business integration while at the same time realize cost savings. Our solution will also allow the Sun Life Financial employees joining IBM to continue to work in their current cities, while at the same time provide new and challenging IT career paths."
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