IBM Books $2.6 Billion Services Order with Spain’s Biggest Savings Bank

IBM, the No. 2 U.S. computer services provider, inked a 10-year services contract with Spain's biggest savings bank, La Caixa, valued at 2 billion Euros (US $2.6 billion).

Armonk, N.Y.-based IBM estimated services it will provide should account for about half the value, with other information technology providers handling the remainder.

La Caixa, based in Barcelona, has been an IBM partner more than 50 years. "With this strategic alliance, we open up our capacity, experience and talent to La Caixa to support their growth plans," said Juan Zufiria, IBM general manager for Spain, Portugal, Greece and Israel.

Besides IBM services and consulting, La Caixa personnel will also collaborate with IBM's research centers, the partners said. IBM is to manage two of the savings bank's Spanish data centers.

The La Caixa banking deal follows other IBM wins announced in the second half of 2011, including Westpac, Banco Santander, Pakistan's MCB Bank and five Kenyan banks.

Through the third quarter, IBM reported nine-month revenue just from business services rose 7 percent to $14.4 billion from $13.5 billion a year ago.

IBM shares were at $184.67 in early Thursday trading. They have gained nearly 26 percent in 2011.