IBM Adds $2 Billion Contract With NTL To Growing ListIBM Adds $2 Billion Contract With NTL To Growing List

They're likely to be breaking open the bubbly at IBM this Memorial Day, following a week of international outsourcing home runs by its Global Services. The unit Thursday scored a 12-year, $2 billion contract to handle the IT needs of NTL Inc., the United Kingdom's largest cable company.

Big as it is, the deal was dwarfed by a new contract in the works with Fiat that will bring IBM and two partners more than $5 billion over the next seven to 10 years. The week also brought IBM a five-year contract to handle IT for the Swedish Post Office, worth a measly $50 million, and one with Dubai Internet City to build two Internet data centers that IBM and DIC will jointly develop, manage, and market.

IBM will pick up about 150 employees from the Swedish Post Office and all 483 IT staffers from NTL. But it should have enough work to go around: The contracts come on the heels of the largest quarter of contract signings in Global Services' history, including eight $100 million contracts and one worth more than $1 billion. The unit contributed to half of IBM's overall revenue growth in the first quarter.

IBM was up 2 points on Thursday's news, to almost $120.