Societa Interbancaria per I'Automazione (SIA), an Italian financial services and network provider, announced a partnership with Global Crossing (NYSE:GX - news), a provider of integrated telecommunications solutions over a fiber-optic infrastructure. Under the agreement, SIA will provide access to its IP-based network infrastructure to Global Crossing for the delivery of SWIFT financial services to the Italian financial community.
Throughout this network transition, SIA will remain the provider of Global Crossing-SWIFT services to Italian financial institutions within Italy. Outside of Italy, SIA will deploy managed network services on Global Crossing's global fiber optic infrastructure to Europe, North America, Asia and Latin America. This partnership enables SIA to expand its global reach and service offering while maintaining its high level of service and support.
The five-year agreement is estimated to be worth approximately $36 million for Global Crossing. The partnership leverages the scalability, reliability and security of Global Crossing's network to achieve worldwide reach for SIA's services. It will further ensure the high quality of SIA's financial solutions provided to banks and financial institutions that are currently available within Italy.
About SIA:
SIA is the technology partner for services supplied to the financial world. SIA's solutions for financial institutions and operators in both the Italian and global markets apply to several business areas including financial markets, settlement systems, pre-settlement services, networking, e-business services, security, back office & asset management and large data bases.
About Global Crossing:
Global Crossing Ltd. (NYSE: GX) provides telecommunications solutions over an integrated global IP-based network, providing managed data and voice products and services. For more information, visit www.globalcrossing.com or www.asiaglobalcrossing.com.