Washington Mutual Extends Outsourcing Contract With IBM - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Washington Mutual Extends Outsourcing Contract With IBM

Washington Mutual Inc. and IBM Global Services havenegotiated a two-year extension to their 10-year, $533million outsourcing contract for desktop and networkservices awarded in 1996. The reason for the extension: Thefinancial services company's acquisitions have increased thenumber of desktops to be managed from 5,600 to 36,000.Sources say the extended contract is worth more than $1billion.

The initial contract was set up to permit renegotiation whencertain thresholds in growth were reached--and thosethresholds were reached quickly. In 1996, Washington Mutualacquired American Savings Bank for $1.2 billion. Thefollowing year, it bought Great Western Financial Corp. for$6.6 billion. Last year, Washington Mutual completed a $9.9billion acquisition of H.F. Ahmanson & Co. and itssubsidiary, Savings of America. In the process, WashingtonMutual has grown from $20 billion in assets in 1996 to $165billion today.

In addition to rolling out new hardware, IBM has providedproject management, help-desk services, and software-distribution tools, all of which contributed to rapidconversion of the acquired banks' systems to the OS/2platform that is the standard for Washington Mutual'sapplications.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Remote Work Tops SF, NYC for Most High-Paying Job Openings
Jessica Davis, Senior Editor, Enterprise Apps,  7/20/2021
Slideshows
Blockchain Gets Real Across Industries
Lisa Morgan, Freelance Writer,  7/22/2021
Commentary
Seeking a Competitive Edge vs. Chasing Savings in the Cloud
Joao-Pierre S. Ruth, Senior Writer,  7/19/2021
Register for InformationWeek Newsletters
Video
Current Issue
Monitoring Critical Cloud Workloads Report
In this report, our experts will discuss how to advance your ability to monitor critical workloads as they move about the various cloud platforms in your company.
White Papers
Slideshows
Twitter Feed
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.
Sponsored Video
Flash Poll