IBM and PJSC Ukrsotsbank Ukraine Sign 10-year Services Agreement; Valued at $200M

IBM

and Public Joint Stock Company Ukrsotsbank, part of UniCredit Group, have signed an agreement to outsource the bank's information technology systems and processes to IBM. As part of the 10-year agreement signed in December 2011 and valued at approximately USD$200M, IBM will assume responsibility for the development and support of PJSC Ukrsotsbank's information systems and applications as well as the management of the bank's IT infrastructure.