EDS inks $300 million for IT

Electronic Data Systems said Thursday that it has signed information technology outsourcing contracts with ChevronTexaco, Del Monte and 3Com totaling $300 million. The agreement with the merged oil company will bring the IT infrastructure of Texaco under the purview of an EDS deal with Chevron. A new 10-year contract with Del Monte extends a 12-year outsourcing relationship between the companies.

IT outsourcing, a lucrative and growing market, often involves handing over large corporate data centers, IT help desks and application development to a third-party service company that specializes in such tasks.