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IBM Renews Computer Task Group Deal

March 05 2012

Computer Task Group Inc. (NASD: CTGX), a Buffalo, N.Y.-based information technology services and solutions provider, reported IBM renewed a multi-million dollar services contract, according to its 10-K filing this month with the U.S. Securities and Exchange Commission.

The deal, known as the national technical services contract, brought $116.5 million in revenue to CTG in 2011. It had brought $102.3 million in 2010.

The national technical services contract was renewed in the fourth quarter. It will now run for an additional three years until Dec. 31, 2014.

IBM ranks as CTG’s largest customer. The contract represented 29.4 percent of the CTG’s total revenue in 2011. No other customer accounted for more than 10 percent of CTG’s revenue.

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