Zurich Financial Services (Zurich) has been selected to enter into into exclusive contract negotiations with CSC (Falls Church, Va.) for IT services deal covering data center and IT infrastructure managed services in Europe and North America, including data center and server virtualization, according to a CSC press release. The companies are currently negotiating a 10-year master service agreement which will provide for country-specific agreements. The potential total value of the contract is an estimated $2.4 billion, according to CSC.
The exclusive negotiation period is for six months, the CSC source reports. The source stresses that any agreements between the companies are subject to regulatory and other approvals and notifications, including certain workers councils, and that no assurance can be made that CSC and Zurich will reach a final agreement on the master service agreement or any particular country agreements, that required approvals will be received, or that a transaction will take place.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio