said it got a $1.1 billion deal to help integate
Bank of America's
acquisition of FleetBoston.
Plano, Texas-based EDS said the eight-and-a-half-year deal covers outsourcing for the integration of communications infrastructure. EDS said it assumed responsibility for the Bank of America network in early 2003 as part of a 10-year, $4.5 billion contract.
EDS will provide secure telecommunications and networking solutions using voice-over Internet protocol technology and help desk services for 1,600 banking center sites, plus automated teller machines and other locations. As a part of the agreement, approximately 150 former Fleet associates will move to EDS.
The news comes on the heels of a sharp setback for EDS, which last week saw its debt downgraded to non-investment, or junk, grade by Moody's. The New York-based ratings agency cited EDS' slow progress in a long-promised turnaround.
On Monday, EDS rose 33 cents to $17.77 and Bank of America rose 28 cents to $84.75.