Schroders extends CSC IT services contract
Computer Sciences Corporation (NYSE: CSC) today announced that Schroders, a global asset management company, has renewed its existing information technology (IT) outsourcing contract with CSC for an additional seven years and 10 months.
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The renewal is valued at approximately $235 million.
The new agreement supersedes a previous seven-year IT outsourcing contract awarded to CSC in June 2001, under which the company provided various infrastructure and applications services.
Under the terms of the new contract, CSC will provide Schroders with infrastructure services for midrange, desktops and networks, and support for key applications.
"The partnership between Schroders and CSC is an integral part of the provision of IT services within Schroders," said Matthew Oakeley, head of Group IT at Schroders. "This agreement provides an excellent platform for increasing leverage of CSC's core skills and enhancing the IT support model for Schroders' business."
"The signing of this renewal represents an important milestone in the evolution of our relationship with Schroders," said Guy Hains, president of CSC's European Group. "It demonstrates CSC's ability to meet client needs and adapt to changing IT and business requirements. Our five years of experience working with Schroders positions us well to continue delivering operational results that directly support Schroders' business goals."