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TheStreet Open House

EDS Gets $700 Million Pact

Electronic Data Systems (EDS - Get Report) has inked a six-year, $700 million deal with Bank of America (BAC - Get Report), the company announced Monday.

EDS will integrate the communications infrastructure of MBNA into Bank of America's voice and data network. Bank of America purchased the credit card company about six months ago.

Shares of EDS were off by a penny in recent trading to $24.20.

Over 200,000 employees in 5,800 retail banking centers and 50 contact centers in 30 states and Washington, D.C., will be linked when the project is complete. The network will also connect 16,700 ATMS and enable banking over the phone and internet.

Since 2003, EDS has worked with Bank of America's communications infrastructure as part of a 10 year, $4.5 billion contract.

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