Perot, Nortel ink $37 million deal
The computer services firm wins a five-year computer outsourcing deal worth $37 million with communications giant Nortel Networks.
Shares of the Dallas-based company got a lift following news of the deal. Perot jumped 0.50 at 18.25 in afternoon trading. It closed at 17.94, a 0.19 gain.
Under the agreement, Perot said it will use its technology resources and management capabilities to help Nortel manage its operations and technology costs so the company can increase service to its clients.
Perot said this deal is an extension of its existing relationship with Nortel. The two companies have previously worked together on joint software development projects.
Earlier this month, Perot posted positive third-quarter results backed by large contract signings. As reported, the company signed a 10-year computer outsourcing contract with Harvard Pilgrim Health Care. Perot said the Harvard Pilgrim contract should exceed about $700 million in revenues.