Banco Sabadell Signs IBM for 7-Million Euro, 9-Year Agreement

Banco Sabadell Signs IBM for 7-Million Euro, 9-Year Agreement

Banco Sabadell, one of Spain’s largest banking groups, and IBM (NYSE: IBM) today announced a 7-million euro, 9-year contract for IBM to manage the bank’s electronic e-mail platform. The agreement is part of PROTEO, Banco Sabadell’s IT renovation program, which aims to position the bank as a leading innovator in the European financial services industry through IT. Banco Sabadell will benefit from a guaranteed quality of service and a flexible IT infrastructure geared toward future growth.

The project includes the management of the hardware, software and communications for Banco Sabadell’s e-mail platform used by more than 10,000 employees. IBM will manage all processes related to e-mail allowing Banco Sabadell to concentrate on its core business activities, generating value for clients and achieving greater efficiencies.

According to Miguel Montes, Operations and IT Manager, Banco Sabadell: “This agreement strengthens the relationship between Banco Sabadell and IBM and will give us access to the information technology infrastructure that endorses our bank’s growth.” The agreement, signed at the end of October 2006, follows a 107-million euro contract signed with IBM last year for IBM to manage Banco Sabadell’s central IT infrastructure. The 2005 contract includes management of the bank’s mainframe environment, a data processing center, as well as IT security.

“IBM is deeply committed to developing innovative solutions for its customers,” said Juan A. Zufuria, General Manager, IBM Global Technology Services, IBM Spain, Portugal, Italy, Greece and Turkey. “IBM’s collaboration with one of the leaders in the banking industry will allow Banco Sabadell to be more flexible as it responds quickly to new market opportunities and challenges.”

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