Reuters: SAN FRANCISCO (Reuters) - IBM is under investigation by the U.S. Environmental Protection Agency over an $80 million bid it made in 2006 to modernize EPA financial systems and has been suspended from seeking new contracts with all U.S. agencies, the company said on Monday. ... International Business Machines Corp, the world's largest provider of computer services, said it only learned on Friday of the temporary suspension from the Environmental Protection Agency (EPA) tied to possible violations of ethical bidding provisions on an EPA contract IBM had submitted in March 2006. ... The temporary suspension applies to all federal agencies and IBM business units. IBM may continue work on existing contracts as of the date of the suspension, unless a particular agency directs otherwise, the company said in a statement. UPDATE: The Wall Street Journal has a few more details ($). Fred McNeese, a spokesman for IBM, said "it's our understanding that the basic issue is whether certain information concerning a contract should have been provided to IBM employees by an EPA employee." A person familiar with the matter said concerns were raised within the EPA about how IBM had acquired sensitive information relevant to its pursuit of a contract valued at more than $80 million to help the EPA modernize some of its computer systems. "It appeared they [IBM officials] used some information given to them by an EPA employee who didn't realize the ramification of sharing such information," the person familiar with the matter said. USASpending.gov indicates that IBM received $1.4 billion in federal contracts in 2007. This represents about 1.4 percent of IBM's total revenues that year.