By silicon.com, 22 August 2000 14:39
NEWS IBM Global services has agreed an outsourcing deal estimated to be worth approximately $300m to IBM over a ten-year period. The deal will see IBM handle the processing and call centre services for Excel Telecommunications' long-distance telephony products. Excel, which sells through a global network of 'part-time entrepreneurs' is a division of the troubled broadband services company Teleglobe. The company has recently been issued with a class action lawsuit by stockholders, who allege Teleglobe artificially inflated its share price. In June, Bell Canada announced it was to reduce the value of its proposed acquisition for Teleglobe from CDN$9.65 to CDN$6.4bn (£4.38 to £2.90) as the company's credit rating was reduced to 'negative'. Bill Kleinhofer, vice president of IBM Global Services, said the company was not worried by Teleglobe's fortunes. He said: "Excel has signed up more than 115,000 customers in Canada in under a year. Their products and their marketing model are very interesting."
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