LAS VEGAS — (BUSINESS WIRE) — June 6, 2011 — HP (NYSE: HPQ) today announced it is making up to $2 billion available to help clients finance their way to the cloud.
This offering is made possible by HP Financial Services, the company’s leasing and asset management subsidiary.
The move to cloud-based solutions represents a significant opportunity for organizations to begin their journeys to becoming Instant-On Enterprises that embed technology in everything they do to serve customers, employees, partners and citizens with whatever they need, instantly.
While many chief financial and information officers agree on the transformative power of cloud solutions, they are often challenged to align the investment budgets and return on investment goals associated with implementing them. HP Financial Services’ financing solutions offer business enterprise executives the opportunity to build a financial architecture to match their technology roadmaps to the cloud.
In an Instant-On Enterprise, value is designed, built and delivered in the form of technology-enabled services. Many enterprises recognize there is not a singular model of delivery that can be optimized to meet all core service needs. Enterprises will continue to operate in environments containing traditional, outsourced and cloud services for the foreseeable future.
The evolutionary nature of this move and the ongoing transition it represents may require ongoing investments in technology expansion and upgrades. A financial architecture designed to support a solution deployment over the long term can provide customers with the flexibility to expand or even contract their technology footprint with ease and in the most fiscally prudent way.
The $2 billion of financing will be made available (based on local financing capabilities and practices) for qualified customers acquiring and deploying solutions from HP’s Cloud solution portfolio.(1) Subject to terms and availability, the financing solutions could be in the form of:
- Leases and other specialized financing solutions
- Sale and lease-back of existing IT infrastructure
- Deferred payment plans
- Low rates and flexible financing options
“In this hugely competitive global economy, having the financial flexibility to drive new projects is critical,” said Irv Rothman, president and chief executive officer, HP Financial Services. “We are committed to helping our clients drive innovation and agility by transforming their legacy systems to advanced cloud solutions.”
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP is available at http://www.hp.com.
(1) Financing available to qualified customers through Hewlett-Packard Financial Services Company or one of its affiliates, and is subject to HPFS credit approval and customer execution of standard HPFS documentation. Other restrictions may apply. HPFS reserves the right to change or cancel the information contained herein at any time without notice.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2011 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.
© 2011 Hewlett-Packard Development Company, L.P. The information
contained herein is subject to change without notice. The only
warranties for HP products and services are set forth in the express
warranty statements accompanying such products and services. Nothing
herein should be construed as constituting an additional warranty. HP
shall not be liable for technical or editorial errors or omissions