Washington Mutual Extends Outsourcing Contract With IBM - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Washington Mutual Extends Outsourcing Contract With IBM

Washington Mutual Inc. and IBM Global Services havenegotiated a two-year extension to their 10-year, $533million outsourcing contract for desktop and networkservices awarded in 1996. The reason for the extension: Thefinancial services company's acquisitions have increased thenumber of desktops to be managed from 5,600 to 36,000.Sources say the extended contract is worth more than $1billion.

The initial contract was set up to permit renegotiation whencertain thresholds in growth were reached--and thosethresholds were reached quickly. In 1996, Washington Mutualacquired American Savings Bank for $1.2 billion. Thefollowing year, it bought Great Western Financial Corp. for$6.6 billion. Last year, Washington Mutual completed a $9.9billion acquisition of H.F. Ahmanson & Co. and itssubsidiary, Savings of America. In the process, WashingtonMutual has grown from $20 billion in assets in 1996 to $165billion today.

In addition to rolling out new hardware, IBM has providedproject management, help-desk services, and software-distribution tools, all of which contributed to rapidconversion of the acquired banks' systems to the OS/2platform that is the standard for Washington Mutual'sapplications.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
Commentary
Gartner Forecast Sees 7.3% Shrinkage in IT Spending for 2020
Joao-Pierre S. Ruth, Senior Writer,  7/15/2020
Slideshows
10 Ways AI Is Transforming Enterprise Software
Cynthia Harvey, Freelance Journalist, InformationWeek,  7/13/2020
Commentary
IT Career Paths You May Not Have Considered
Lisa Morgan, Freelance Writer,  6/30/2020
Register for InformationWeek Newsletters
Video
Current Issue
Special Report: Why Performance Testing is Crucial Today
This special report will help enterprises determine what they should expect from performance testing solutions and how to put them to work most efficiently. Get it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll