HP Opens $2 Billion in Financing to Clients Moving to the Cloud

By Nicole Henderson,June 10, 2011

A screen capture of an HP video on HP Secure Cloud Service

(WEB HOST INDUSTRY REVIEW) -- HP (http://www.hp.com/) announced this week that it has made up to $2 billion in financing available for its clients moving to the cloud through its leasing and management subsidiary HP Financial Services (www.hp.com/hpfinancialservices).

Earlier this week real estate firm The Benaroya Company acquired a 60,252 square foot data center in Idaho from HP.

According to the press release, HP Financial Services' financing solutions enable enterprises executives the opportunity to accompany their "roadmaps to the cloud" with the financial infrastructure to make it possible.

HP says that "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."

According to the company, the financing will be made available for qualified customers acquiring and deploying solutions from HP's cloud portfolio.

HP says the financing can be in the form of leases, sale and lease-back of existing IT infrastructure or  deferred payment plans.

"In this hugely competitive global economy, having the financial flexibility to drive new projects is critical," Irv Rothman, president and CEO 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 company recently launched a data center consulting service. Last month, The WHIR talked to director and strategist for critical facilities consulting at HP Larry Hinman about the new service.

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