Apr 27, 2004 : IBM Secures Deal with Morgan Stanley
📅 - IBM (ibm.com) has been selected to build an on demand technology infrastructure for financial services giant Morgan Stanley, the companies announced on Tuesday, signing a five-year, $575 million contract extension.
Under the deal, IBM will build an infrastructure based on the utility computing model, automatically drawing computing power, only as needed, from a shared pool of data center resources. The model allows enterprises to pay for just the resources they use, resulting in significant cost savings.
"Technology lies at the heart of modern business, and that's why it's so important for Morgan Stanley to have a hand-in-glove working relationship with a technology provider that intimately understands how our business works," says John Schaefer, president of the Individual Investor Group at Morgan Stanley. "IBM's technology and services leadership, business-savvy and worldwide reach have made for a long, strong, and positive relationship with us."
According to IBM, processing power, storage capacity and networking bandwidth will be supplied automatically, dialed up and down as dictated by needs. IBM will also install a metering system that allows Morgan Stanley to pay only for the computing power it uses.
"During our long relationship with Morgan Stanley, IBM has watched at close range the company's relentless focus on using technology to better serve its customers," says Doug Elix, senior vice president and group executive of global services at IBM. "Going forward, we are committed to providing Morgan Stanley with the kind of IT infrastructure that increases performance, resilience and flexibility while freeing up resources that can be deployed to obtain greater business advantage."
Under the deal, IBM will build an infrastructure based on the utility computing model, automatically drawing computing power, only as needed, from a shared pool of data center resources. The model allows enterprises to pay for just the resources they use, resulting in significant cost savings.
"Technology lies at the heart of modern business, and that's why it's so important for Morgan Stanley to have a hand-in-glove working relationship with a technology provider that intimately understands how our business works," says John Schaefer, president of the Individual Investor Group at Morgan Stanley. "IBM's technology and services leadership, business-savvy and worldwide reach have made for a long, strong, and positive relationship with us."
According to IBM, processing power, storage capacity and networking bandwidth will be supplied automatically, dialed up and down as dictated by needs. IBM will also install a metering system that allows Morgan Stanley to pay only for the computing power it uses.
"During our long relationship with Morgan Stanley, IBM has watched at close range the company's relentless focus on using technology to better serve its customers," says Doug Elix, senior vice president and group executive of global services at IBM. "Going forward, we are committed to providing Morgan Stanley with the kind of IT infrastructure that increases performance, resilience and flexibility while freeing up resources that can be deployed to obtain greater business advantage."
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