IBM in $1.4B Services Deal; Stock at 5-Year High
IBM Corp. said Monday it has won a $1.4 billion outsourcing contract from AstraZeneca PLC, a seven-year deal aimed at helping the British pharmaceutical company manage its internal technology operations.Posted — Updated
IBM will run servers, data storage, desktop computers and networking services for AstraZeneca around the world. The contract is an extension of a relationship the two companies have had over the previous seven years.
The deal was reached this month and will not affect IBM's second-quarter earnings, due to be reported Wednesday.
News of the AstraZeneca deal and the acquisition of another software firm lifted IBM's stock to a five-year high of $109.66 on Tuesday.
IBM is acquiring DataMirror Corp., a Canadian firm, for $163 million. DataMirror provides software designed to help enterprises get faster access to data.
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