Swisscom has seen its sales lag in the face of growing competition and a saturated Swiss market, but the merger could double its total service revenues starting next year.
Under terms of the deal, Comit will assume control of Swisscom’s existing financial services unit in 2006, and the resulting business will become an independent subsidiary of Swisscom IT Services. The new operation will employ about 420 people and make about CHF200 million ($158.5 million) in revenue.
The business will focus on implementation, operation, and application management of banking services. The old Comit operation will handle the consulting and applications management work, and the old Swisscom IT unit will provide computer center services.
