AXA Group and IBM Sign $1 Billion on Demand Services Contract; Innovative Partnership To Extend AXA's Technology Leadership; Facilitate Business Transformation.Business Editors/High-Tech Writers ARMONK, N.Y.--(BUSINESS WIRE)--Feb. 28, 2003 AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Group and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) today announced a technology services agreement to enhance the performance and efficiency of AXA's global computing infrastructure. The deal is worth approximately $1 billion over a six-year term, with options to extend. AXA expects to save several hundred million dollars over that time. Effective immediately, IBM will begin integrating AXA's server, mainframe and storage systems under an on demand computing structure, capable of driving business innovation and transformation at the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company. Under terms of the contract, AXA will retain full management control of the IT infrastructure and AXA personnel with IBM providing on demand computing capacity. AXA will transition from a traditional fixed cost approach to one in which vital technology is accessed as a flexible, variable cost service. By moving to an on demand infrastructure with variable cost structures, AXA expects to achieve significant savings and respond more quickly to changing market conditions. "We have chosen IBM because of their expertise in delivering innovative business and technology services that drive growth," said Claude Brunet, member of the Management Board, AXA Group. "This on demand infrastructure agreement prepares us for an increasingly competitive marketplace by giving us flexibility to adjust rapidly to changing business needs." "IBM is committed to delivering innovation on behalf of its customers and we look forward to helping AXA take advantage of the best in on demand technologies and business services," said Doug Elix, senior vice president and group executive, IBM Global Services IBM Global Services is the world's largest business and technology services provider. It is the fastest growing part of IBM, with over 190,000 professionals serving customers in more than 160 countries. . "IBM will provide AXA access to the world's leading research and technology for an on demand operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. that closely aligns with AXA's strategic business plans." As part of the contract, IBM will help AXA consolidate its server, mainframe and storage infrastructure. AXA will pay for the capacity used on a per unit basis. The agreement also includes training support for AXA personnel and a dedicated AXA Innovation Team that will focus on delivering competitive advantage to AXA by driving innovation and transformation, while supporting the alignment of AXA's business and technology strategic plans. To support AXA's future growth, IBM will optimize the company's worldwide computer systems and infrastructure into an open, flexible operating environment, providing skills and computing resources on an on demand basis. IBM will reallocate Verb 1. reallocate - allocate, distribute, or apportion anew; "Congressional seats are reapportioned on the basis of census data" reapportion allocate, apportion - distribute according to a plan or set apart for a special purpose; "I am allocating a loaf of resources as necessary to ensure that IT priorities are aligned with AXA's business needs. AXA will continue to retain its core technology competencies, including information technology strategy, strategic technology relationships, the development and maintenance of applications and databases and the management of its businesses' technology portfolios. About AXA AXA Group is a worldwide leader in financial protection and wealth management. AXA's operations are diverse geographically, with major operations in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , North America and the Asia Pacific area. AXA had EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 906 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of December 31, 2001 and reported revenues of approximately EUR 75 billion for 2001. Revenues as of September 30, 2002 were EUR 57 billion. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE NYSE See: New York Stock Exchange under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors AXA. This press release is also available on AXA Group Web site: www.axa.com. IBM Global Services IBM Global Services is the world's largest information technology services provider, with professionals serving customers in 160 countries and annual revenue of more than $36 billion (2002), or 45 percent of IBM's total annual revenue. IBM Global Services offers a broad range of capabilities -- consulting, IT services, hardware, software, research and financing -- to help companies of all sizes realize the full value of information technology. For more information, visit: www.ibm.com/services. |
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