Lloyds Banking Group, IBM sign $1.66 billion cloud deal

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IBM has signed a ten-year cloud services agreement with Lloyds Banking Group in the UK with a contract value of roughly $1.66 billion (£1.3 billion, including VAT).

The company says it will provide dedicated cloud offerings hosted in both Lloyds and IBM data centers in the UK, and will manage the application migration services.

[Image courtesy: Lloyds Banking Group]