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Siemens, IBM Win German Armed Forces IT Deal

IBM and Siemens have been commissioned by the German armed forces to oversee a 7.1 billion-euro ($9.3-billion), 10-year IT modernization project, the two companies confirmed on Thursday.

The U.S. computer services group and the German industrial conglomerate are equal partners in a consortium that will run the project, and together they hold 50.1%. The German government holds the remaining 49.9%.

Sources had told Reuters that IBM and Siemens could sign the contracts by the end of the year.

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