The two-year deal covers the "procurement, execution and delivery of all printed matters for Qantas", and is expected to generate up to $10m of revenue for TMA per year.
TMA said the switch in suppliers would "deliver savings on print in excess of 25% as well as service improvements through a digital asset management system and a consolidation of the supply base with routine form printing".
Managing director Anthony Karam said: "The contract represents further expansion of our print management presence in the market place, and allows TMA to continue to grow on its strong B2B foundation."
On 27 July, subsidiary company TMA Labels announced it had picked up a five-year contract with supermarket chain Coles worth $7m to supply in-store and distribution centre self-adhesive labels.
"The addition of another 'blue chip' client to TMA's labels division reinforces TMA's reputation for product quality, service capability and delivery," Karam said.
The print review is part of a three-year transformation program at Qantas led by Accenture, which is targeting $500m of savings in 2010.
IPMG chief executive Stephen Anstice said he was "disappointed" with the decision.
"Qantas was our largest [print management] client but not our only one and Sync is much more than a print manager. We provide customers with complete communications solutions – from strategy to execution," he said.
Anstice claimed his company had lost out because it had refused to agree to certain demands.
"Qantas employed the services of an external consultancy whose single goal was to reduce the cost of non-core good and services, including Qantas print collateral.
"To achieve this goal, respondents to the tender were asked, among many other concessions, to source pricing from low-cost countries. IPMG, as a large employer, supplier and supporter of the Australian print industry, chose not to comply with this requirement," he said.
Anstice added that IPMG was also asked to agree to fixed material and labour costs for an extended period. "In our view this is simply not possible."
"These factors have obviously worked against us in the evaluation process," he added.
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