IT giant IBM's branch in Czech Republic has signed a contract with the Czech Ministry of Finance to provide and implement the Treasury Integrated Information System. The deal is worth approximately $100 million.

IBM signed the agreement after being recommended by the tender commission named by the Czech Government.

IBM's Treasury Integrated Information System is designed to enable the transparent administration of state finance providing efficient handling of state budget resources and public finance. The Treasury Integrated Information System is already deployed by many European Union member states.