CSC signs $500 million outsourcing deal

CSC signs $500 million outsourcing deal

Computer Sciences Corp (CSC) has signed a seven-year subcontractor deal with IBM to help support IT outsourcing for financial services company, JP Morgan Chase & Co.

The Californian-based CSC said the contract was worth about $US500 million.

CSC already provided IT services to New York-based JP Morgan Chase under a 1996 agreement that expired in July, the company said.

Under the new deal, CSC would continue to manage some of JP Morgan's distributed trading-floor data processing operations, spokesman, Mike Dickerson, said.

Under the latest deal, CSC will be responsible for about 4000 servers and provide assistance to IBM in implementing additional IT initiatives.

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