FALLS CHURCH, Virginia, July 22 /PRNewswire/ --
- Agreement Extends Services Through 2015
CSC (NYSE: CSC) announced today that it has extended its information technology (IT) outsourcing contract with Swiss bank Zuger Kantonalbank. The new, seven-year contract, which is valued at US$33 million (34 million Swiss Francs) is an early renewal of a previous eight-year contract signed in 2002.
Under the agreement, CSC will continue to provide SAP-based applications services, including development, maintenance and support. Specifically, CSC will continue its 24x7 operation and management of Zuger's SAP banking platform and add new functionality that enhances system efficiency and increases ease of use.
"With CSC's support, we can continue to lower operating costs while increasing customer service," said Beat Mathys, a Zuger Kantonalbank senior management executive. "This will enable us to further increase efficiency and improve our cost-income-ratio in the highly competitive retail banking market."
CSC serves nearly 5,500 financial services clients in 50 countries, including one-third of the world's top 50 banks.
"The strength of our financial services heritage gives our customers security in a rapidly changing market," said Guy Hains, president of CSC's European Group. "We are delighted to expand our relationship with Zuger Kantonalbank and continue our work together to drive innovation and increase efficiency."
About Zuger Kantonalbank
Zuger Kantonalbank is the leading financial institution in the business region of Zug. The whole spectrum of banking services is offered in 14 branch offices throughout the canton of Zug. Zuger Kantonalbank is a stock-registered corporation with 380 employees and a balance sheet of 9.4 billion Swiss Francs in total assets. For further information please consult http://www.zugerkb.ch.
CSC is a leading IT services company. CSC's mission is to be a global leader in providing technology-enabled business solutions and services.
With approximately 90,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's 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 Falls Church, Va., CSC reported revenue of US$16.5 billion for the 12 months ended March 28, 2008. For more information, visit the company's Web site at http://www.csc.com.
Ute Blauth, Manager, Media and Analyst Relations, CSC EMEA Central Region, CSC Deutschland Solutions GmbH, +49-611-142-17119, or Rich Venn, Media Relations, CSC Corporate, +1-310-615-3926, firstname.lastname@example.org, or Bill Lackey, Director, Investor Relations, CSC Corporate, +1-310-615-1700, email@example.com