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IBM, NiSource reach $600 million agreement

Published on NewsOK Modified: May 13, 2014 at 11:24 am •  Published: May 13, 2014
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ARMONK, N.Y. (AP) — IBM has reached an approximately $600 million deal with NiSource to continue providing a broad range of IT services to the power distributor.

The seven-year agreement includes the creation and management of a hybrid cloud computing environment that the companies said would enable NiSource to continue to deliver efficient and reliable service to its customers while improving its performance.

IBM has provided IT services to Merrillville, Indiana-based NiSource Inc. since 2005. NiSource runs a natural gas transmission, storage and distribution business. It also generates and distributes electricity.

Shares of International Business Machines Corp., based in Armonk, New York, fell 60 cents to $191.97 in midday trading Tuesday while NiSource's stock slipped 9 cents to $35.90.