01 June 2006
1 June 2006
Barclays extends partnership with Xansa
New arrangement with a minimum expected revenue of £75m over five years
Xansa, the outsourcing and technology company, and Barclays are pleased to
announce that they are extending their relationship through a new arrangement
with a minimum expected revenue of £75 million over five years. This new
arrangement will be delivered through the existing joint venture which is
jointly owned by Barclays and Xansa with a shareholding split of 51:49
The joint venture will continue to supply applications management and major
change programmes to Barclaycard, and the joint venture contract has also been
expanded to encompass some of the services currently delivered to the wider
Barclays Group by Xansa.
This extension demonstrates Xansa's ability to deliver considerable benefits to
clients through market leading commercial propositions, leveraging best practice
process expertise. The expanded relationship will provide cost effective,
quality services to Barclays, enabling the business to focus on growing its
Xansa has been working with Barclays for over 15 years and became Barclays'
first significant IT outsourcing partner when the Barclaycard joint venture with
Barclays was established in 2002.
Commenting on the announcement, Gary Edwards, Senior Technology Officer,
Barclaycard, said, "In such a highly competitive market it's more important than
ever that Barclaycard is able to get new products to market quickly and deliver
the best value and service to its customers. In Xansa we have a flexible and
responsive partner that understands our business and works closely with us to
ensure we deliver quality products and services to our customers as quickly and
cost effectively as possible. We are delighted to be extending such a
Alistair Cox, Chief Executive, Xansa said today, "This contract extension is a
great endorsement of our excellent and longstanding relationship with Barclays.
It builds on our principles of shared success and of working in partnership to
deliver real business benefit, beyond simple cost reduction. We are delighted
to be Barclays' IT partner."
Gordon Stuart Giles Sanderson, James Melville-Ross
Finance Director, Xansa Financial Dynamics
Tel : + 44 (0)8702 416181 Tel : + 44 (0)20 7831 3113
Xansa is an outsourcing and technology company. Committed to delivering
guaranteed business outcomes through a combination of technology and process
expertise, Xansa gives its clients the freedom to do more with their business.
Strong relationships, commercial innovation and an integrated Indian delivery
capability ensure that Xansa drives real and long-term cost reductions,
performance improvements and new ways of working tailored to each client. The
services Xansa provides are Business and Technology Consulting, IT
Implementation, IT Outsourcing and Business Process Outsourcing. Head-quartered
in Reading, Berkshire, Xansa is listed on the London Stock Exchange (LSE: XAN)
and has over 6,800 people in the UK and India.
Barclays PLC is a major global financial services provider engaged in retail and
commercial banking, credit cards, investment banking, wealth management and
investment management services. We are one of the largest financial services
companies in the world by market capitalisation. Operating in over 60 countries
and employing over 113,000 people, we move, lend, invest and protect money for
over 25 million customers and clients worldwide. With over 300 years of history
and expertise in banking, Barclays PLC has six major businesses.
This information is provided by RNS
The company news service from the London Stock Exchange