EDS inks $108 mn outsourcing deal with Israeli bank

BANGALORE: EDS, a provider of IT solutions and services, today announced the

signing of an outsourcing contract with the First International Bank of Israel (FIBI).The eight-year project is valued at around $108 million.

According to a press release, this contract is the largest outsourcing

contract in Israel and the first such contract in the Israeli banking

industry. EDS will serve as the prime contractor, and Ness Technologies

would follow a comprehensive and competitive evaluation process.

Under this deal, FIBI will outsource its information technology (IT)

operations to EDS lsrael, including approximately 100 employees of FIBI's IT

subsidiary, and the IT infrastructure. EDS will manage the bank's IT

infrastructure; host the bank's central, departmental and personal computer

activity and manage its communications network.

"Our strategic partnership with EDS will allow the bank to experience

significant reduction of expenses and, in turn, opportunities for increased

revenues," said Yossi Levi, FIBI's head of operations and information

technology division.

"This is the largest and most important outsourcing contract in Israel,

both in terms of financial size and scope of services," said Yair Pecht,

country manager, EDS Israel.