CMA CGM has teamed with IBM to establish a 50-50 joint venture to provide the French shipping group with enhanced core information technology systems.
CMA CGM SYSTeMS will start operations in January from Marseille. The new company will work exclusively for CMA CGM Group, employing 286 CMA CGM staff.
The two parties anticipate revenue of about 700 million euros ($891 million) over the 10-year term of the initial agreement.
"Our common goal is to improve both efficiency and service performance for our current and future customers. Ongoing search for performance and innovation is really at the core of this strategic decision," said Farid T. Salem, chief executive officer of the CMA CGM Group.
"This agreement will lead us to combine our business consulting and IT expertise to create new, innovative methods for CMA CGM to meet business objectives, service customers, and drive bottom-line growth," said Dominique Cerutti, IBM's general manager for southwest Europe. "As the shipping industry becomes more competitive, flexible, responsive IT infrastructures and innovative business models are required to meet customer needs."