ABB to outsource IT business to IBM in 1.1 bln dollar deal

ZURICH (AFP) Jul 28, 2003
The Swedish-Swiss engineering group ABB said Monday it would transfer nearly all its information technology activities to US group IBM in a 10-year contract worth 1.1 billion dollars (955.8 million euros).

The outsourcing contract is part of ABB's strategy to refocus on its core industrial activities and will help reduce its charges over the period, the company said.

The contract includes the transfer of more than 1,200 ABB employees to IBM.

SPACE.WIRE