EDS has signed an eight-year IT outsourcing contract with the First International Bank of Israel (FIBI). The $108 million deal is the largest outsourcing contract in the country and a first for its banking industry.

Under the agreement, EDS will manage the FIBI's IT infrastructure and infrastructure. They will handle the bank's communication network and host its central department and personal computer activity.

Yossi Levi, FIBI's head of operations and information technology divisions said, "Our strategic partnership with EDS will allow the bank to experience significant reduction of expenses and in turn opportunities for increased revenues."

Yair Pecht, country manager for EDS Israel said, "EDS Israel was selected due to its leadership position in the domestic outsourcing market as well as the significant value that EDS will bring to the bank based on the experiences and knowledge gained through providing IT services to leading global financial institutions."

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