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  • Multi-billion dollar mega-deals end in breakup

    Ten years ago in IT, Y2K had come and gone without catastrophe, security chiefs were grappling with the ILOVEYOU virus, and the dotcom bubble was bursting. But in the IT services industry, the year 2000 was notable for another reason - it was the year of the giant outsourcing deal.
    A total of 24 IT outsourcing mega deals (multi-year contracts worth a billion dollars or more) were signed that year - more than the industry had seen before or since. All told, they were worth more than US$54 billion, according to outsourcing consultancy TPI. They included the EDS-US Navy contract worth $6.9 billion, the Bank of Scotland's $1 billion deal with IBM Global Services, and the $3 billion IT services contract between Nortel Networks and CSC.

    Written by Stephanie Overby30 March 10 23:00