IoT
Strategic CIO // IT Strategy
News
8/31/2005
01:47 PM
50%
50%

ABN Amro Set To Unveil Largest IT Offshore Outsourcing Deal

Value of contract involving Tata Consultancy Services and other vendors could exceed $2 billion.

InformationWeek has learned that ABN Amro on Thursday will formally acknowledge its signing of the IT industry's largest offshore outsourcing deal to date. According to numerous sources, the Dutch financial-services giant has tapped Indian service providers Tata Consultancy Services and Patni Computer Systems as part of a consortium of vendors that will handle its infrastructure, application development, and maintenance requirements.

Sources say the total value of the work could exceed $2 billion in total, with TCS and Patni in line for contracts worth hundreds of millions of dollars. That would represent the largest sum committed by a Western firm to Indian IT-services vendors.

ABN Amro is said to want to move more than 2,000 IT jobs to India to take advantage of the country's low cost environment. Several U.S.-based vendors, including IBM and Accenture, also are thought to be in the running for portions of the work. Both vendors maintain large development centers in India. IBM and Accenture officials were not immediately available for comment. A formal announcement is expected Thursday morning, according to sources.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of July 17, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.