IBM Settles With Texas Over Failed $863M Data Contract

Law360, New York (March 20, 2012, 6:38 PM EDT) -- IBM Corp. has settled with Texas over an allegedly broken $863 million data consolidation contract, the state confirmed Tuesday, a week after a Xerox Corp. unit landed a $1.1 billion agreement that partly replaced the IBM pact.

Texas will pay about $35 million to IBM for services and equipment costs, according to Thomas Johnson, a spokesman for the Texas Department of Information Resources. In return, IBM will write off $26 million for work already completed and give the state equipment estimated to be worth up to...
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