Companies plan to transform the bank's IT services into 'on-demand infrastructure' PARIS — IBM Corp. and French bank BNP Paribas SA will form a joint venture to run the bank’s IT infrastructure, the companies announced Friday.The joint venture will manage BNP’s mainframes and some 7,000 servers with an online storage capacity of 400TB, according to the statement. It will employ 450 people, drawn from both companies. This strategy will enable BNP to retain its skilled technical staff, the bank said.During the course of the multiyear agreement, worth up to €1 billion ($1.2 billion), the companies plan to transform the bank’s IT services into what they call an “on-demand infrastructure,” which will save costs and improve performance at the bank, the companies said in a statement. BNP operates in 85 countries and employs 87,700, some 66,000 of whom are based in Europe, the company said. IBM will manage its part in the joint venture through its Global Services division.Last month, IBM picked up an outsourcing deal with Germany’s Commerzbank AG, and last year it signed a deal said to be worth €2.5 billion with Deutsche Bank AG. Software DevelopmentTechnology IndustrySmall and Medium Business