Business & Finance
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4/5/2004
01:43 PM
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Aetna Signs IBM Services

While more and more businesses are turning IT work over to contractors, one CIO says he'd prefer to keep his technology development in-house. "We have no intention of abdicating critical functions," says Wei-Tih Cheng, CIO and senior VP at Aetna Inc. Last week, the insurance company tapped IBM to help simplify its IT operations under a five-year consulting deal. Rather than turn over Aetna's technology operations to IBM's vast outsourcing unit, Cheng is bringing IBM consultants to Aetna. "We want to leverage IBM's skills and knowledge to help our own people," Cheng says. Sources familiar with the deal say it's worth a total of about $200 million.

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