Computer services giant Electronic Data Systems Inc. (EDS) has signed a deal in Italy to manage the Banca di Roma group’s data centers, networks, desktops and business applications which, at $1.5bn, is the largest IT outsourcing contract ever signed in that country. The contract runs for just over 10 years, to the end of 2008, and involves EDS joining the EnteCassa di Risparmio di Roma savings bank and insurance company Toro Assicurazioni in a core shareholder group, with an entitlement to a seat on the Banca di Roma board. The Dallas, Texas-based services company had already taken a 2% shareholding in the Banca di Roma group (which also includes the Banca Nazionale dell’Agricoltura and the Banca Mediterranea) in December, when it was privatized, paying some $100m for the shares. A spokesperson for EDS in Europe said the deal was the fruit of Banca di Roma’s desire for an industrial partner which can bring it global skills and world class capabilities’, adding that this required it to be ‘a very close partnership. That did not preclude EDS competing for other outsourcing contracts with banks and financial institutions in Italy, however, he went on, pointing out that the company already serves Areabanca, insurance company INA and Credito Emiliano in that country. Europe represented just under a quarter of EDS’ global revenue last year, bringing in $3.7bn in business out of a total of $15.2bn. The UK is still the country’s largest individual market within the region.
