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Bank of America Awards EDS $700M Networking Contract

Posted June 26, 2006

— Bank of America will pay EDS $700 million over the next six years to incorporate the network infrastructure of the bank and MBNA Corporation, the companies said Monday.

EDS is based in Plano, TX.

Charlotte-based Bank of America acquired MBNA in 2005 in a deal worth $35 billion.

The contract calls for EDS to create an integrated voice and data network that will link some 5,800 retail banking centers and 50 contact centers. The network will stretch across 30 states and include 16,700 ATMS, EDS said.

EDS landed a 10-year, $4.5 billion contract with Bank of America in 2003 for another networking deal.

"EDS complements Bank of America's commitment to a seamless acquisition by providing the network capability to quickly and flawlessly integrate MBNA into the current infrastructure," said Tom Warsop, U.S. Financial Services industry vice president for EDS, said in a statement. "Our deep industry expertise will ensure that Bank of America continues to deliver exceptional customer service to its customers throughout the transition period."

EDS will work with Cisco Systems to implement the network.


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