Date:27/04/2006 URL: http://www.thehindu.com/2006/04/27/stories/2006042705382010.htm

Business - Briefly

LogicaCMG and ING sign MoU

BANGALORE: LogicaCMG and ING on Wednesday today signed a Memorandum of Understanding (MoU) for outsourcing activities in the field of application development, application maintenance and testing of IT systems mainly relating to ING's banking operations. The agreement is expected to have a value of over 200 million Euro based on a six-year period. About 350 ING employees based in the Netherlands will join LogicaCMG. The final contract with ING is expected to be signed this summer.