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Banca Carige outsourcing IT management to IBM

Banca Carige SpA has closed a deal with International Business Machines Corp. to outsource its IT management.

The bank's IT structure, including 134 full time equivalent positions, will be transferred to a new subsidiary, Newco, which is 81%-owned by IBM and 19%-owned by Banca Carige.

The consideration for Banca Carige amounted to 10.7 million. The bank said the deal will help save about €40 million on the total cost of ownership over the period of the 2017 to 2020 business plan.