CSC SIGNS $146 MILLION CONTRACT EXTENSION WITH AMP
Announcement posted by Computer Sciences Corporation (CSC) 30 Jun 2006
Computer Sciences Corporation (NYSE; CSC) today announced that leading wealth management company AMP Limited (ASX: AMP) has extended its relationship with CSC. The new four-year, $146 million (AUD$200 million) contract extends the two companies original engagement, which started in 1993, making it one of the longest running information technology (IT) strategic outsourcing relationships in Australia.
Because the financial services market is so dynamic, weve developed an enhanced services model that has at its core a continuous improvement program, said Mike Shove, Managing Director and CEO of CSCs Australian operations. Innovations like this model help us continue to deliver the results AMP needs to excel in such a competitive industry.
AMP and CSC have a mature relationship, which has grown over the years, said Lee Barnett, AMP Chief Information Officer. We have fine-tuned our governance so that the relationship works well for both of us. We can adapt to change in incremental step changes, rather than forcing major change, and this is better for our customers, planners and employees.
Under the new agreement, CSC will continue to provide desktop, network and mainframe maintenance and support, and selected mid-range services.
About AMP
AMP is a leading wealth management company, providing financial advice and retirement savings and income, investment, insurance and banking solutions to more than 3.4 million customers. It is Australias number one provider of superannuation, it has the largest financial planning network in the country, and it is one of the regions largest investment managers.
About CSC
Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSCs mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 79,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSCs own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.6 billion for the 12 months ended March 31, 2006. For more information, visit the companys Web site at www.csc.com.
Because the financial services market is so dynamic, weve developed an enhanced services model that has at its core a continuous improvement program, said Mike Shove, Managing Director and CEO of CSCs Australian operations. Innovations like this model help us continue to deliver the results AMP needs to excel in such a competitive industry.
AMP and CSC have a mature relationship, which has grown over the years, said Lee Barnett, AMP Chief Information Officer. We have fine-tuned our governance so that the relationship works well for both of us. We can adapt to change in incremental step changes, rather than forcing major change, and this is better for our customers, planners and employees.
Under the new agreement, CSC will continue to provide desktop, network and mainframe maintenance and support, and selected mid-range services.
About AMP
AMP is a leading wealth management company, providing financial advice and retirement savings and income, investment, insurance and banking solutions to more than 3.4 million customers. It is Australias number one provider of superannuation, it has the largest financial planning network in the country, and it is one of the regions largest investment managers.
About CSC
Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSCs mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 79,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSCs own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.6 billion for the 12 months ended March 31, 2006. For more information, visit the companys Web site at www.csc.com.