Fat outsourcing contracts are relatively few and far between these days, so HP’s 10-year, multi-billion dollar global win with Deutsche Bank is a welcome shot in the arm for its declining Enterprise Services division.
The deal was signed before Chrimbo – we asked HP for comment at the time but it refused to talk – but it went public today, with a contract that mainly covers Deutsche’s wholesale banking tech infrastructure.
The plan will see the financial institution use HP’s Helion private cloud to buy data centre services on demand, including storage, platform and hosting.
The bank said it will keep certain activities in-house, including IT architecture, app development and info sec. Deutsche plans to upgrade and slash the number of its applications, and move them on to HP’s cloud.
In a canned statement, Henry Ritchotte, COO at Deutsche Bank, said the agreement lets it cut costs and move to a “modern and agile technology platform”.
Enterprise Services has been one of the more troubled areas of HP, and the unit was the subject of recent restructuring across EMEA, consolidating the regional structure. It also spent much of last year in cost cutting mode, with stricter policies on travel, overtime and recruitment. ®