724 Solutions and Computer Sciences Corporation announced a strategic alliance in which CSC will resell 724 Solutions’ software applications, provide systems integration services, and manage the operation of 724 Solutions’ application hosting business. The alliance is expected to allow 724 Solutions to expand its reach to banking organizations and private-label credit card issuers worldwide while enabling CSC to grow its wireless services business.
Under terms of the agreement, CSC will license, resell, and implement 724 Solutions’ Alerts, Banking, and Credit Card products to the financial services industry. 724 Solutions’ technology will be integrated with CSC’s Hogan Systems and CAMS II (Card and Merchant System) software products. 724 Solutions’ Worldwide Professional Services Group will offer on-going training and consulting support to CSC.
In addition, 724 Solutions will transition its application hosting business to CSC’s e-HUB Application Hosting facilities. This agreement allows 724 Solutions to focus on its core competency of wireless technology development while continuing to provide its customers with a cost-effective hosting service option.
“724 Solutions’ expertise in the financial services industry and mobile commerce market is very valuable to us,” said David Blanton, executive vice president of Banking Solutions for CSC’s Financial Services Group in the Americas. “By leveraging 724 Solutions’ applications, CSC can immediately extend its core banking and credit card offerings with a mobile channel and bring more value to its financial services clients and their customers.”
“CSC is one of the world’s leading information technology service providers serving over 1,200 major financial institutions worldwide,” said John Sims, chief executive officer, 724 Solutions. “This key focus on the financial services market aligns perfectly with our offerings and strategy. The strategic relationship offers a ‘win-win’ situation for our customers, CSC and ourselves. The combined offering that results from this alliance will help us bring more value to our customers while we continue our drive toward our profit objectives.”
Computer Sciences Corporation, one of the world’s leading consulting and information technology (IT) services firms, helps clients in industry and government achieve strategic and operational results through the use of technology. The company’s success is based on its culture of working collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges.
Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. With some 68,000 employees in locations worldwide, CSC had revenues of $11.3 billion for the 12 months ended Dec. 28, 2001. It is headquartered in El Segundo, Calif. For more information, visit the company’s Web site at www.csc.com.
About 724 Solutions Inc.
724 Solutions Inc. is a leading provider of mobile Internet infrastructure software and applications. It makes m-business happen globally by powering the delivery of secure mobile transactions for financial institutions and mobile operators. With headquarters in Toronto, Canada, the company has development and sales offices around the world. For more information, visit www.csc.comDetails