SOMERS, NEW YORK - 13 Jul 1998: /span> -- IBM today announced that it is extending and expanding its 10-year technology outsourcing agreement with Equifax, the world leader in consumer and business information.
The original outsourcing contract was signed in 1993. The new agreement will run to 2008 and, when combined with other existing agreements, represents an aggregate contractual value of approximately $900 million.
Under the terms of the agreement, IBM Global Services will manage a majority of Equifax's world-wide information technology resources, providing data-center management; network voice and data management and business recovery services.
Equifax operations in the United States, Canada, United Kingdom, Spain, Mexico and other locations will have access to this broad range of information technology services.
"This new, 10-year agreement extends Equifax's leadership in technological innovation and allows us to continue to focus our resources on what we do best -- solving the needs of our customers for information and knowledge-based solutions," said Richard Crutchfield, chief technology officer, Equifax. "In addition, IBM will help Equifax develop a variety of exciting new e-commerce offerings within its business units."
Richard Horton, vice president - Business Services, IBM Global Services, noted that Equifax "was one of IBM's first strategic outsourcing contracts, and helped establish our leadership in the services business. This agreement is a natural expansion of our long-term relationship and allows Equifax to take full advantage of IBM's global infrastructure."
Last month, IBM and Equifax announced that they had entered into a strategic alliance to develop and market services that ensure safe and more secure transactions over the Internet and other networked environments.
With 1997 revenues of approximately $26 billion, IBM Global Services is the world's largest information technology services provider. IBM's fastest growing business segment has an unsurpassed breadth of capabilities, and more than 110,000 professionals helping companies of all sizes solve real business problems and create new business opportunities. For more information on IBM Global Services, visit www.ibm.com/services.
Equifax's worldwide knowledge-based information, transaction processing, consulting and software businesses are designed to bring buyers and sellers together, thus changing the shape of global commerce. Equifax serves the banking, financial, retail, credit card, automotive, telecommunications/utilities, government and health care industries. It is a leading supplier of business information solutions in Canada, the UK and Latin America. Equifax operates in 17 countries with sales in 42 countries. Founded in 1899 in Atlanta, Equifax (NYSE: EFX) today has 10,000 employees around the world. Revenues for the 12 months ended March 31, 1998, were more than $1.4 billion. Visit the company's Internet web site at http://www.equifax.com.
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Contact(s) information
David Caplan
IBM Global Services
914-766-4529
caplan@us.ibm.com
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