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HP to Offer $2 Billion to Finance Cloud Computing Initiatives

Hewlett-Packard is lending a hand to companies looking to take advantage of the benefits of cloud computing by offering up to $2 billion to help customers finance cloud computing initiatives. The funding comes through HP Financial Services, the company’s asset management and leasing arm. "In this hugely competitive global economy, having the financial flexibility to […]

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Jennifer Lawinski

Jun 7, 2011

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Hewlett-Packard is lending a hand to companies looking to take
advantage of the benefits of cloud computing by offering up to $2
billion to help customers finance cloud computing initiatives.

The funding comes through HP Financial Services, the company’s asset management and leasing arm.

"In this hugely competitive global economy, having the financial
flexibility to drive new projects is critical," Irv Rothman,
president and chief executive officer of HP Financial Services, said in a statement. "We are
committed to helping our clients drive innovation and agility by
transforming their legacy systems to advanced cloud solutions."

The move is part of HP’s initiative to help foster the growth of
Instant-On Enterprises that embed technology in their dealings with
customers, employees, partners and the general public. Engaging in
cloud computing is a step in that direction, the company said.

"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," the company said.

The $2 billion in financing will be available to qualified customers
purchasing and deploying products and solutions from the HP Cloud
solution portfolio and based on local financing capabilities and
practices. Financing is available in the form of leases and other
specialized financing solutions, sale and lease-back of existing IT
infrastructure, deferred payment plans and low rate and flexible
financing options.

The company will announce an expanded Hybrid Delivery cloud portfolio on June 7.

HP to Offer $2 Billion to Finance Cloud Computing Initiatives

Jennifer Lawinski

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