IBM Announces Four Funding Options for Customers Seeking to Finance New Storage Technology Capabilities
ARMONK, N.Y.- IBM Global Financing, the lending and leasing business segment of IBM (NYSE:IBM), today outlined four approaches for customers to access IBM’s comprehensive, new suite of storage hardware, software and services offerings that were announced today.
“IBM Global Financing offerings can help customers address the ongoing shift from static to more dynamic information flows,” said John Callies, general manager of IBM Global Financing. “From low-rate financing to environmentally and data secure disposal of customers’ existing storage assets, IBM Global Financing better equips clients with these new IBM storage technology in the midst of an information explosion.”
IBM Global Financing will notify clients directly about how easy it is to achieve information freedom as part of this worldwide launch. Offerings include:
* Low-Rate Financing for all highly qualified customers. IBM Global Financing rates are as low as 4.6% for hardware purchases; 4.8% for software; and 6.3% for services. IBM Global Financing is able to provide low and competitive rates because of its low cost of capital achieved from borrowing off its parent’s strong balance sheet. For payment calculators and further information visit, www.ibm.com/financing.
* As a response to the Economic Stimulus Act, signed into law by President Bush earlier this year, IBM Global Financing is offering US customers in 2008, three month payment deferrals and enhanced pricing. For more information visit, http://www.ibm.com/press/us/en/pressrelease/23513.wss.
* Some customers, depending on the term remaining on their existing leased storage assets, may benefit from lower monthly payments when they upgrade to the new storage offerings. This is based on IBM Global Financing calculating the residual value of a customer’s existing leased storage equipment inventory and applying that to a new lease of IBM’s new storage technology.
* For customers looking to raise capital and extract value from their existing storage assets as part of an upgrade, IBM Global Financing will offer cash for replaced equipment and put them on a new lease package with an upgrade as part of its sale-leaseback offering. IBM Global Financing will also provide the highest industry standards for disk/data overwrite services as part of its Global Asset Recovery Services offering. For more information, visit www.ibm.com/recovery.
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