International Business Machines Corp. on Wednesday said it sealed deals worth more than $1 billion in new work with two European companies from which the information technology company just acquired two Danish services providers.
IBM said the acquisitions of A.P. Moller-Maersk’s Maersk Data and Danske Bank’s DMdata were done to expand in Europe’s technology services market.
Maersk and Danske Bank gave Armonk, New York-based IBM the new service deals because they believe Big Blue will provide Maersk Data and DMdata enough funding and capacity, which the units were previously lacking, in order to take on more work, IBM said.
Dominique Cerutti, general manager of IBM Global Services in Europe, confirmed that the contracts are for new work.
IBM said it would provide Maersk, a container shipping company, with services such as management consulting and software development. The deal will span five years.
Danske Bank, Denmark’s biggest financial group, selected IBM to manage its worldwide technology systems, an assignment which will last 10 years.
The company said the total value of the deals is $1 billion but did not break it down between the two.
