Ericsson signs IT outsourcing Memorandum of Understanding with HP.Business Editors/High-Tech Writers STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--April 11, 2003 Ericsson Er·ics·son , John 1803-1889. American engineer and inventor who built the first ironclad warship, the Monitor (1862), which engaged the Confederate Merrimack in a famous naval battle of the Civil War (March 9, 1862). (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ERICY) today signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with HP for outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. of Ericsson's information technology (IT) infrastructure. Under the final intended agreement HP will provide IT services for Ericsson's operations worldwide. The Memorandum of Understanding establishes the principles of how Ericsson and HP intend to work together. The final agreement is expected to be signed before end of Q2 2003. The intended agreement will include transfer of personnel at Ericsson Global IT Services (EGIS) to HP. The decision to outsource the IT operations is part of Ericsson's ongoing changes within the IS/IT area. By outsourcing its IT operations Ericsson expects to substantially reduce the overall IT cost and achieve greater flexibility in adjusting resources and expertise to meet fluctuations in its business and in the industry. IS operations, i.e. development, implementation and management of applications, will not be included in the agreement with HP. Ericsson is unable to disclose the financial terms of the agreement. Ericsson is shaping the future of Mobile and Broadband Internet See broadband. communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world. Read more at http://www.ericsson.com/press |
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