A specialist technology law firm has advised technology services company EDS on the $ 1 billion (£505 million) IT outsourcing deal it signed recently with German retail and tourism group KarstadtQuelle, which owns UK household-name travel agency Thomas Cook.
KarstadtQuelle recently sold 74.9% of the shares in its IT subsidiary Itellium Systems & Services to EDS, although the transaction is subject to the approval of the antitrust authorities.
Itellium will continue to provide comprehensive IT services for KarstadtQuelle group. The outsourcing agreement between Itellium and KarstadtQuelle covers IT operations, further development and modernisation of the KarstadtQuelle IT application landscape and focuses on the heavily increasing online business.
The deal was led by the EDS general counsel for the region, Thomas Burkhart, with support from legal advisers, DLA Piper in Frankfurt.