Computer Sciences Corporation has signed a seven-year, $500 million subcontract with IBM to provide IT services to JPMorgan Chase.
CSC currently provides IT services to the US bank under a 1996 agreement that expires in July 2003. CSC was a partner in the original Pinnacle Alliance with Accenture - recently ousted by IBM in a new seven-year $5 billion outsourcing deal.
Under the terms of the latest agreement, CSC will continue to manage a portion of the JPMorgan Chase distributed computing data processing environment of approximately 4000 servers and assist IBM in the implementation of its new IT data processing delivery strategy.