Leading hedge firm Augustus Asset Managers has signed a four year IT outsourcing contract with global IT infrastructure services provider Savvis. As per the deal, Savvis, will deliver Augustus with customized “highly available" trading systems believed to be the "lifeblood" of the company as well as support the business continuity of its critical IT infrastructure.
Savvis will deliver a flexible hosting solution along with network connectivity and business continuity and disaster recovery for Augustus. The management takeover meant that both the firms would divide their IT assets while Augustus would do without asserts like in-house data centre etc.
Augustus focuses on fixed income and currency investments and claims to have assets worth $9 billion comprising long only/traditional funds, hedge funds and absolute return funds.
Augustus hopes to make use of Savvis' hosting and utility computing model for effective use of internal resources, technical expertise and IT budgets. Savvis will also provide Augustus with business continuity and disaster recovery services used by global financial services firms, investment banks and international exchanges. Source
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