IBM announced today that it has expanded its relationship with National Bank Financial Group (TSX: NA) through the renewal of its Infrastructure Management Services contract for a duration of seven years, valued at CDN$450 million.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

This new agreement establishes a transformed relationship between IBM and National Bank Financial Group, where IBM is helping the Financial Group achieve its strategic sourcing agenda. IBM will manage the group's information technology (IT) infrastructure including mainframe, server management and end-user services.

Supporting National Bank Financial Group's "one client, one bank" strategy, IBM will oversee a major transformation initiative to implement new server technologies, standardized processes and an integrated set of enterprise tools. The objective is to simplify the bank's IT infrastructure while increasing its resiliency and efficiency.

"National Bank Financial Group has aggressive plans for serving their client-base and for growth in Canada," said Saad Toma, general manager, Global Technology Services, IBM Canada. "As a trusted partner, IBM will deliver cost-effective and flexible services in support of the Financial Group's growth strategies."

This new agreement signed in March 2009 is an early renewal of a contract that was signed in 2001.

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SOURCE: IBM