Colt wins €15m networking deal with Commerzbank

Telecoms firm Colt has signed a €15m deal with the German Commerzbank to manage and upgrade the bank's IT infrastructure.

The five-year project will connect Commerzbank networks across much of western Europe as well as 190 branch sites across Germany.

The rollout should be completed by late 2006 and, following that, Colt will continue to manage the networks between the bank's European offices.

Colt has also won a contract for an undisclosed sum with Japanese financial services firm Nomura International.

The telecoms company is to deliver data and voice services to Nomura offices in the UK and other European countries in a bid to cut supplier numbers and reduce costs. The network is said to include IP videoconferencing.

Ian Buchanan, CIO of Nomura International, said in a statement: "We constantly seek ways to improve our service delivery and efficiency. These kinds of enhancements to our network will ensure that the performance of our mission-critical business applications is optimised."