The council will join neighbouring borough councils Hinckley and Oadby and Wigston, which is expected to result in a net saving of £200,000 over the duration of the contract.
Sandra Whiles, CEO of the council, said: "The beauty of the shared service agreement with Steria is that we will be joining a well-established partnership arrangement which is already generating cost efficiencies and benefitting the local community at the same time as offering opportunities for our former IT colleagues."
Steria has been providing IT services to Hinckley and Bosworth Borough Council since 2006.
The shared service between Hinckley and Bosworth and Oadby and Wigston was set up by Steria in 2009 and has saved Hinckley and Bosworth an initial £33,000 per annum.
Photo: Rex Features