Art of the Deal

By eweek  |  Posted 2003-02-03 Print this article Print

: IBM and J.P. Morgan"> Art of the Deal: IBM and J.P. Morgan

  • May 1996 J.P. Morgan announces it will outsource management of global IT infrastructure to the Pinnacle Alliance, a group of service providers led by CSC and including AT&T Solutions and what later became Accenture and Verizon

  • December 2000 J.P. Morgan and Chase Manhattan Corp. merge, forming J.P. Morgan Chase & Co., the nations second-largest financial institution, with an estimated IT budget of $4.7 billion; the deal with CSCs Pinnacle Alliance is expanded to include Chase Manhattan

  • Q1 2002 J.P. Morgan Chase issues RFP for new deal, inviting bids from EDS, IGS and CSC; deal is structured in two parts

  • Mid-2002 Bank decides to restructure RFP as single deal and expand it to include distributed systems; new RFP is re-sent only to IBM and EDS

  • November 2002 Bank negotiates exclusively with IGS

  • Dec. 30, 2002 Bank announces $5 billion, seven-year contract with IBM

    Source: J.P. Morgan Chase, IGS

  • Read more articles by Jeff Moad
  • Find more stories on IBM


    Submit a Comment

    Loading Comments...
    Manage your Newsletters: Login   Register My Newsletters

    Rocket Fuel