IBM wins Bank of Ireland contract away from HP

CALIFORNIA, USA:  International Business Machines Corp won a five-year technology services contract with Bank of Ireland away from rival Hewlett-Packard Co.

The contract is worth around $300 million, a source with knowledge of the agreement told Reuters.

Both IBM and Bank of Ireland on Monday declined to disclose the financial terms, but said the deal came after an expiration of the lender's previous contract with HP and a competitive bidding.

IBM will manage the overall IT infrastructure for the bank, including its servers, networks, and desktop systems, they said.