CSC and AMP Announce Expanded Outsourcing Agreement Valued at US$314 Million

Computer Sciences Corporation (CSC) and AMP Limited have announced an expanded five-year total outsourcing agreement worth US$314 million (A$550 million), effective June 1, 2000. This expanded agreement replaces the final three years of the original agreement that was to have ended in 2003. The outsourcing deal is part of the AMP/GIO Integration Program and will involve the management of AMP and GIO's Australian information technology (IT) infrastructure, including network, desktop, and mainframe services. As a result of this agreement, a number of people will transfer to CSC's Australian Group.

Key Takeaways:

• The expanded outsourcing agreement is valued at US$314 million (A$550 million) and will last for five years, replacing the final three years of the original agreement that was set to end in 2003.
• The agreement involves the management of AMP and GIO's Australian IT infrastructure, including network, desktop, and mainframe services.
• The outsourcing deal is a key element of the AMP/GIO Integration Program.
• As part of the agreement, several employees will transfer to CSC's Australian Group.
• The agreement reflects AMP's strategy to be a responsible user of technology and forge strategic partnerships.
• CSC has had a strong business relationship with AMP for several years, built on a common understanding of successful partnering.

Statistics:

• The expanded agreement is worth US$314 million (A$550 million).
• The agreement will last for five years.
• The outsourcing deal involves the management of AMP and GIO's Australian IT infrastructure.
• The original agreement was set to end in 2003.
• AMP has over 21,000 employees worldwide.
• AMP manages assets of more than A$280 billion worldwide.
• CSC has revenues of $9.4 billion for the twelve months ended March 31, 2000.

Sources:

• Computer Sciences Corporation.
• AMP Limited.
• CSC's web site at www.csc.com.
• AMP's web site at www.amp.com.au.