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ABN Amro on 1st September 2005 announced 5 vendors for outsourcing business of 1.8 billion Euro, after a global competitive tender.The largest chunk of this business – 1.5 billion Euro for infrastructure management – went to IBM. While TCS bagged a five-year 200m euro ($260m) contract, Infosys’ share works out to euro 108m ($140m), also for a similar term. This is the biggest contract ever signed by both the companies, which will develop, support and work on application enhancements for the bank across geographies.

Also figuring in the list is Patni Computer, which along with Accenture, has been named by ABN Amro as a preferred partner for application development.

ABN Amro has reached an agreement with the selected IT vendors to improve the performance of its IT services and realise significant efficiencies across the global IT organisation. With this deal, ABN Amro reduces its IT staff substantially. The bank expects the total estimated IT staff reduction will be 1,500 people in the next 18 months. The bank expects savings of euro 258m ($335m) per year as of ’07. Combined with other related savings, the figure is expected to rise to at least euro 600m ($780m) from ’07 onwards.

The deal signifies a trend towards strategic global sourcing, where customers are selecting multiple, best-of-breed vendors to help improve efficiencies in their IT service delivery. Large global outsourcing deals so far have typically gone to players like IBM and Accenture.

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