 The deal is worth �1.56bn to BT over eight-and-a-half years |
Telecoms giant BT has signed a deal with Reuters worth �1.56bn ($3bn) to provide network services to the news and information group. In return, BT will buy Radianz, the financial services extranet provider from Reuters for �91m.
BT sees the purchase as a vital step in its transformation into a global provider of networked IT services.
Reuters announced the deal last October, but had not disclosed terms of the agreement.
"The network services agreement with BT signals the start of an important relationship," said Reuters chief executive Tom Glocer.
Ben Verwaaayen, chief executive of BT said he believed the benefits for both companies would be "significant".
This is the latest in a series of announcements from BT about major customer contract deals and follows the acquisitions of Albacom and Infonet.
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