Bank of America has signed a $4.5 billion managed network outsourcing services agreement with EDS.
Beginning in February, Bank of America will move carrier services to EDS, establishing a "one-stop shop" for voice and data services and the implementation of new network-related solutions. In addition, EDS will redesign and implement solutions for Bank of America's optical network and provide the company with help desk operations support.
Approximately 1000 Bank of America staff across the US will transfer to EDS as part of the agreement.
Don Obert, technology services executive for Bank of America, comments: "It's important for us to capitalise on the expertise of partners like EDS to help us align our resources with business needs, to be better prepared for future growth and to support our ongoing efforts to improve service quality."
News of this latest deal comes hard on the announcement that EDS has entered exclusive negotiations with Bank of Bermuda for a 12-year $375 million IT outsourcing contract.
The implications of the agreement for Bank of America's ten-year optical networking contract with Sprint, signed in October, are not clear.