IBM Corp has formed a 700m euro ($890m) joint venture with CMA CGM Group to handle the French shipping company's IT functions over 10 years.The 50-50 joint venture will upgrade and support CMA CGM's systems to accommodate future growth, according to IBM Global Services spokesperson Adam Emery. The contract covers a range of hardware, software, and development services, he added.The venture, known as CMA CGM Systems, will work exclusively for CMA CGM. When operations begin in January, the venture will staff 286 existing CMA CGM employees, an IBM release states. CMA CGM is the third-largest shipping company in the world.In August IBM signed another big deal with Safmarine Container Lines, part of the Denmark's AP Moller-Maersk Group, the world's largest shipper. The value of the 10-year contract, which will transfer 159 Safmarine workers to IBM, was undisclosed.
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