IBM Signs 5-Year Service Pact with Hertz

Hertz Corp. signed a five-year contract with International Business Machines Corp. (IBM), which agreed to provide global information technology.

Financial terms of the agreement weren't disclosed.

IBM, the information technology giant based in Armonk, N.Y., will boost its services to Hertz under the deal, delivering application maintenance and development aid.

Park Ridge, N.J.-based Hertz was recently trading down 15 cents, or 1.1 percent, at $13.48.

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