IBM Signs 10-Year Multi-Billion Cloud Deal With ABN Amro

The deal comes as the U.S. company is trying to gain momentum in the market for Internet-delivered services, known as cloud computing. IBM will provide fully managed services for mainframe computers, servers, storage and end-user computing as well as a help desk and other technical support. IBM did not disclose financial details of the deal.

Last month, IBM said it had won a 7-year outsourcing contract from Germany's Lufthansa worth 1 billion euros ($1.25 billion, roughly Rs. 7,748 crores) that will see the U.S. company take over the airline's information technology infrastructure services division and staff.

In its latest quarterly results IBM reported a marked slowdown in business in September and abandoned its 2015 operating earnings target.

IBM has failed to keep pace with a shift to cloud-based computing services from its established business selling computer consulting and software that customers run on internal computer systems.

Last month, ABN Amro said it would cut staffing at its branch network and invest in improved online banking services as customers increasingly managed their finances online.

© Thomson Reuters 2014