MUMBAI: The BBC has announced that it has completed the procurement for a 10-year Technology Framework Contract (TFC) with Siemens Business Services worth almost £2 billion.

As per the deal Siemens Business Services has acquired BBC Technology

Led by Siemens Business Services MD Tom White, BBC Technology will be renamed Siemens Business Services Media Holdings, says a company release.

BBC COO John Smith added, "This deal marries both our legendary broadcasting experience in making great programmes with the resource and expertise of a global IT player - ensuring the BBC can achieve its Building Public Value vision to secure our digital future.

The value and substantial savings created from the sale of BBC Technology and this procurement of our technology services is a significant step for us in ensuring the BBC is fit for the future and continues to create innovative programmes."

As part of the deal, Siemens Business Services will also provide the skills, expertise and investment to support the BBC's technology vision. This vision aims to put creative tools on desktop computers in the BBC by the end of the decade, enabling a revolutionary approach to programme making in a digital Britain.

It was in July that the BBC had announced that subject to contract, Siemens Business Services had been selected as the single preferred bidder. The other bidders in the fray were Accenture and CSC, adds the release.