OMX Provides Verizon with Networks

September 25, 2007 -- (WEB HOST INDUSTRY REVIEW) -- Data center operator OMX announced on Monday it has signed an outsourcing agreement with telecommunications provider Verizon Business (verizonbusiness.com). The agreement covers OMX's external network operations and data center management and spans a seven year period, starting October 1.

Under the agreement, Verizon Business will be responsibile for aspects of external networks and data centers. OMX will continue to be the prime contractor and offer a wide range of IT services to exchanges, clearing organizations and CSDs worldwide. The overall goal with the transaction is to further enhance global customer service delivery and support future growth.

"Finding a dedicated outsourcing supplier for external network operations and data center management is an important element in our global growth plans," says Markus Gerdien, president of market technology for OMX. "Verizon Business has an excellent track record in managed services, proven experience of the financial services sector, and a global network reach. The partnership is ultimately designed to benefit our customers. We look forward to working with Verizon Business as we continue to expand the reach of our IT services worldwide."

OMX's decided to outsource network and data center operations to further facilitate international expansion, as well as streamline operations. The agreement is part of OMX's focus on increasing profitability in the market technology business.

Verizon announced last month it signed a three-year contract to provide managed security services for Hutchison 3G Australia's wireless network.