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Dell has acquired portions of CIT Vendor Finance’s Dell-related assets and sales and servicing functions in Europe. DFS now delivers direct financing solutions in Europe in the U.K., Ireland, Germany, Austria, Switzerland, Belgium, the Netherlands and Luxembourg. To complete its European expansion DFS has now acquired CIT’s Dell-related assets to offer financing in France, Spain, Italy, Portugal, Norway, Sweden, Denmark and Finland on Oct. 1. CIT Vendor Finance is currently a Dell financing partner operating on behalf of Dell Financial Services (DFS) in various countries, and will continue to provide financing programs with Dell in select countries around the world beyond this transaction, including agreements in Latin America.
Why These Transactions
Dell Financial Services (DFS) delivers financing solutions for Dell’s technology, services and solutions customers. Until now, DFS has directly enabled financing to customers in the U.S. and Canada, while indirectly enabling financing through various vendors outside of the U.S. As Dell continues to evolve its end-to-end scalable solutions strategy, DFS is enabling that strategy by furthering its direct financing capability for our commercial and multi-national customers. CIT Vendor Finance is a leader in vendor financing and leasing and has been engaged in Dell’s financing services for more than 10 years. By acquiring portions of CIT Vendor Finance’s Dell-related assets and sales and servicing functions in Europe, Dell has expanded its direct financing activities outside of North America.
Customer and Partner Benefits
Qualified customers should continue to have access to existing financing options from Dell. These transactions allow Dell to offer financing options directly to customers in Europe as well as the financing we offer in North America today. For multinational companies, in particular, this should enable a globally consistent approach to financing (to the extent that local accounting practice allows), which enhances our services for global customers. The expansion of our capabilities, combined with the transfer of many of the CIT team, and a continuing partnership with CIT Vendor Finance in other countries, should provide a seamless transition for our customers.
|“Access to adequate financing continues to be an issue in Europe and this has left many small- and medium-sized customers without the necessary capital to invest in new solutions and support future growth. Through DFS we are providing companies with an affordable and convenient way for customers to acquire the technology solutions they need to support and grow their businesses.” said Cormac Costelloe, General Manager, Dell Financial Services EMEA. “The further expansion of DFS throughout Europe is part of our long-term commitment to expand our customer financing globally. Now even more of our customers will be able to access the capital they need to make technology investments.”|
Statements in this presentation that relate to future results and events are forward-looking statements based on Dell's current expectations. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. Risks, uncertainties and assumptions include the possibility that projected benefits may not materialize as expected; that the transactions may not be timely completed, if at all; that Dell is unable to successfully implement the plans, strategies and objectives of management for future operations, including the execution of integration strategies; and other risks that are described in Dell’s Securities and Exchange Commission reports. Dell undertakes no obligation to update these forward-looking statements.
|Belgium (België/ Belgique)|
|Switzerland (Schweiz/ Suisse)|