35 

2003 

employees to IBM. The agreement is valued at $1.1 billion and builds on a well established 

relationship between the two companies.  

Michelin signs an eight year partnership agreement with IBM valued at 1 billion euros, under 

which IBM will assume the management and maintenance of Michelin's IT infrastructure in 

North America and Europe.  

AXA Group signs a $1 billion contract with IBM for on demand services to enhance the 

performance and efficiency of AXA's global computing infrastructure.  

The U.S. National Football League and IBM announce a three year agreement naming IBM as 

the NFL's official IT partner. The agreement is centered on helping the NFL create the 

technology platform required to support next generation digital media and other critical new 

business ventures for the NFL.  

General Dynamics Electric Boat awards IBM a multi year contract to build the shipbuilding 

industry's first Internet based supply chain network. 

ChevronTexaco Corporation selects IBM as its global preferred supplier for strategic, financial, 

management  and information technology consulting services.  

The Proctor & Gamble Company signs a 10 year, $400 million agreement with IBM Business 

Consulting Services for human resources outsourcing services, under which IBM will support 

nearly 98,000 P&G employees in 80 countries.  

In a six year, $254 million agreement, John Hancock Financial Services, Inc., selects IBM to 

build an on demand technology infrastructure that will allow the company to accommodate 

unplanned surges in customer demand while improving reliability.  

IBM announces that nearly 200 of the industry's leading life sciences applications have now 

been ported to IBM eServer systems.  

The company reports a broadening of its custom chip business beyond traditional application 

specific integrated circuit (ASIC) designs, with plans to offer a variety of new alternatives to 

reduce time, cost and design complexity in creating a customized solution for customers.  

IBM announces the PowerPC 440EP embedded processor, the company's first 440 based 

standard product to include hardware support for floating point operations, USB and flash 

interfaces on a single chip.  

In April, IBM launches a  major initiative, including new services and software, to help 

customers deal with the skyrocketing costs and complexity of maintaining decades old software 

applications that run 70 percent of the world's major business operations. Called  spaghetti  

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