Phoenix subsidiary signs up for secret stand-by centre
ICM Continuity Services, part of the Northampton-based Phoenix IT group, has signed a £19m contract with a London-based global financial services group. The five-and-a-half year agreement is ICM’s largest deal to date.
The contract will see ICM provide "one of the largest dedicated UK stand-by dealing centres" to be located outside of London.
The deal is with an unnamed financial service company. ICM said that “client confidentiality and the secret location of the ICM facility is a key part of the fabric of the plan and no further information on these will be forthcoming".
ICM, which has offices in Nottingham, Northampton and Peterborough, will earn £3.4m per year from the agreement.
The company said the centre will enable the customer’s traders and support staff to benefit from a permanent, fail-over facility in the event of any incident which prevents normal operations.
The contract is an early extension of a three-year contract which was due to end in March 2011.
The extension includes a significant upgrade to the dealing room and PC systems, delivering a ‘like for like’ facility with no data loss and no service degradation from the "normal" operational environment.
Mike Osborne, managing director at ICM, said: “We are absolutely delighted that ICM has won this major contract and it is great news for all of our 230 staff".
