IBM has signed an $330 million outsourcing deal with Allianz. Novato based Allianz of America has awarded a seven and half year long contract to IBM. The duration of the deal seems a bit long because these days that biggies go for smaller duration deals. As per the contract IBM will assist Allianz of America to comprehensively create a single and managed IT footprint for both of its North America opeartions- Fireman's Fund and Allianz Life Insurance. 
Oliver Bussmann, CIO at Allianz says
By negotiating one contract for both entities, we leverage scale much more effectively
If you wonder what would be the impact of the contract on IT employment levels, well, your guess is as good as ours.
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