IBM announced bagging a 10 year IT outsourcing deal from Kurmanchal Nagar Sahakari Bank Ltd, an urban co-operative bank based in Uttarakhand.

The deal will require IBM to remotely host and manage the IT infrastructure from its data centre in Bangalore, manage the disaster recovery site and provide the entire networking infrastructure to the bank. IBM says the deal will result in about 60 percent capex savings for the bank.

“The fact that the bank decided to enter into a 10-year long agreement further reiterates the trust clients — big or small — put in IBM’s capabilities,” said Nipun Mehrotra, VP and GM, Global Technology Services, IBM India.