HP Accelerates Cloud Adoption with $2 Billion in Financing for Cloud Projects .

WorldWide Tech & Science. Francisco De Jesús.

HP Accelerates Cloud Adoption with $2 Billion in Financing for Cloud Projects.

LAS VEGAS, June 6, 2011

HP 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 will announce an expanded Hybrid Delivery cloud portfolio at HP DISCOVER on June 7 at 10:30 a.m. PT. Register for the press conference webcast here.

About HP

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 (NYSE: HPQ) is available at http://www.hp.com.