Automotive parts maker Visteon has signed a 10-year IT outsourcing deal with IBM, valued at around $2bn (£1.2b...
The deal will see IBM take over Visteon's mainframes, datacentres, networks, help desk operators and some application development. IBM will develop technologies for the automotive industry in partnership with Visteon.
Visteon, which was spun off from Ford Motor Company in 2000, will continue to manage applications that support product development as well as its IT architecture.
"The automotive industry is becoming increasingly global and reliant on new IT technology to stay competitive," said Lorie Buckingham, Visteon's chief information officer.
"Working with IBM will give Visteon state-of-the-art technology and support services applied consistently on a global basis. This will allow Visteon to focus on core business strategies supported by world-class quality and delivery of IT services through the partnership."
The deal with Viseon is the latest in a series of major outsourcing deals secured by IBM.
Last month investment bank JP Morgan Chase signed a significant seven-year outsourcing deal with IBM valued at more than $5bn (£3.1bn)
The outsourcing market is booming in both private and public sectors as companies outsource IT functions and business processes to suppliers in a bid to cut costs.
Visteon supplies technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. It has approximately 77,000 employees and a global delivery system of more than 180 technical, manufacturing, sales and service facilities located in 25 countries.