IBM wins $128M contract with Pearson |
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Wed, 11 Apr 2007 15:35
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ARMONK, N.Y. (AP) - International Business Machines Corp. won a $128 million information technology infrastructure services contract from media company Pearson plc, according to a statement released by both companies Wednesday.The new five-year agreement, which was signed in January, extends a previous contract to 2014.Under the terms of the agreement, IBM will continue to manage systems for London-based Pearson, including business applications for billing, inventory control and payroll.The companies said the contract will help Pearson provide new services and reduce costs for its publishing, information and education units, including its Penguin Group publishing business and Pearson Education.In morning trading, IBM shares fell 71 cents to $95.75, and Pearson shares shed 3 cents to $16.75 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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