CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

IBM and WPP sign 800m cloud agreement

Article By: ,  Financial Analyst
December 3, 2014 4:26 PM

US technology company IBM has agreed a $1.25 billion (£796 million) cloud-computing deal with WPP, the world’s largest advertising agency. The seven-year agreement will allow WPP to merge the operations of more than 300 agencies it has bought up over the past ten year.

IBM will use hybrid clouds – which mix private and on-site computer systems – with newer public-facing internet and mobile systems. It will run WPP operations within global hybrid cloud infrastructure

"As the world’s largest communications group, we are seeking to exploit IBM’s cloud computing expertise to allow us to innovate and add value to both the service and the product we deliver to clients across 111 countries," said Robin Dargue, WPP’s chief information officer.

IBM has recently signed a string of similar agreements with European firms. On Monday, IBM disclosed a multibillion-dollar deal to provide computer infrastructure services to Dutch bank ABN Amro.

Last month, Lufthansa agreed a $1.25 billion contract for IBM to take over the German airline's information technology operations and staff.

And the new contract signings are not over yet, an executive for the computer services giant told Reuters.

Bart Van den Daele, IBM's general manager for strategic outsourcing in Europe, said big contract signings slowed in the depths of the euro crisis but that the region's customers are ready to play catch-up.

"(There's) a new wave of these deals which is still continuing and we see it going forward," Van den Daele told Reuters, referring to cloud contracts. He did not specify, however, whether these deals would be similar in scale to the recent billion-dollar plus awards. "Now you see the first results with Lufthansa, ABN Amro and WPP and there will be others," he added.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

 

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024