By Kimberly Chin

IBM Services, the professional-services arm of International Business Machines Corp. (IBM), has agreed to provide managed information-technology services to Nordea Bank.

Under the $540 million multiyear agreement, the bank will outsource the majority of its IBM Z mainframe servers and software operations to IBM.

Nordea, which has had a working relationship with IBM since 2003, will also transfer Nordea employees to IBM to work with the company on technology support.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

January 08, 2019 07:43 ET (12:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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