London – International law firm Masons has closed a €600 million, seven-year IT outsourcing transaction for Bank of Ireland, one of the largest outsourcing deals ever in the UK and Ireland. This completes the outsourcing of the bank’s entire technology infrastructure to HP, including desktop systems, servers, mainframes, local area networks, printing operations and IT service desk.
This is the second large-scale global outsourcing deal that Masons has completed in recent months, following the success in advising Diageo on its global IT outsourcing deal with IBM Global Services in September.
Masons’ highly regarded outsourcing practice facilitated the deal, led by partner Angela Cha. The firm had been working with the Bank of Ireland and its UK subsidiary Bristol & West from the bidding process earlier this year through to the completion of the contract. Bank of Ireland’s Gabrielle Ryan and Bristol & West’s Jan Karpinski completed the legal team from the client side.
Masons’ HR practice also advised on the UK employment issues affecting the transfer of approximately 500 employees from Bank of Ireland to HP as part of the contract.
Following a competitive bid process, HP was selected for exclusive contract negotiation in April of this year. During the intervening period, an extensive due diligence phase has been undertaken and BoI and Bristol and West has worked with the Irish Financial Services Regulatory Authority and the Financial Services Authority to ensure the relevant authorities’ requirements for outsourcing were met.
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Notes to Editors:
1. Masons is one of the most highly regarded law firms specialising in technology, telecoms, outsourcing and information law.
Founded in the 1940’s, Masons has more than 90 partners and 650 staff working in 12 offices in England, Scotland, Ireland, Belgium, Hong Kong, China and Singapore. Its dedicated Information Technology practice has been the facilitator of many of the largest and most complex outsourcing projects to date.
Masons also runs OUT-LAW, an award-winning technology and e-commerce support service. OUT-LAW is a free service which includes a quarterly magazine, a weekly e-mail news bulletin and the out-law.com website, offering free information and checklists to help businesses. With more than 16,000 subscribers and 3,500 pages of content, out-law.com is believed to be one of the largest and most successful law firm websites in the world.
2. For further information, please visit Masons’ websites: www.masons.com or www.out-law.com