HP bags $500 million outsourcing deal

Hewlett-Packard on Wednesday said it has received a $500 million contract to provide global IT services for WestLB, a European commercial bank and financial services firm.

The five-year contract, which goes into effect on Jan. 1, will involve the transfer of 450 WestLB employees in Dusseldorf, Germany, London, New York and Tokyo.

Under the deal, HP will manage desktop PCs, mail systems, telephony systems and other workplace technology in WestLB's offices worldwide. The technology giant also will maintain and operate the bank's communication networks, including providing support for its Web site and intranet, and provide customer support.

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