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will build a smart card e-payment infrastructure for Singapore's transportation system.

Financial terms of the deal weren't disclosed.

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IBM's High Performance On Demand Solutions Labs is working to link the fare payment systems of Singapore's mass rapid transit and light rail transit systems with the transit operators' central computers, card service operator and card manager system.

The network will be able to support more than 10 million transactions by 2010, when a new transit line will be complete. That's compared to the four million transactions managed today.

IBM said the new infrastructure will be able to support more than 650 transactions per second during peak hours, and will be built for scalability and flexibility to grow as the network expands.

Big Blue shares lifted 1.4% in recent trading, tacking on $1.17, to $82.82.