Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News
    • Networking
    • PC Hardware

    Dell Financial Services Buyout Could Be Boon to Dell Partners

    By
    Jessica Davis
    -
    December 20, 2007
    Share
    Facebook
    Twitter
    Linkedin

      Dell’s planned purchase of global financial services and advisory company CIT’s 30 percent interest in Dell Financial Services could mean good news for members of the PC maker’s nascent channel partner program.

      Dell announced plans Dec. 20 to exercise its option to buy out CIT’s interest in its financing arm, with an eye to simplifying the financing process for its customers.

      Dell also confirmed that while “there are financing options for channel partners, we are looking at a number of programs specifically tailored to channel partner needs and made possible because of this purchase,” said Colleen Ryan, a Dell spokeswoman. No details were immediately available.

      The Round Rock, Texas, company plans to complete the purchase by the end of the calendar year, making it the sole owner of the financial services company, Dell said. Dell currently owns 70 percent of Dell Financial Services, which provides loans, leases and revolving credit for consumers, small businesses and commercial customers.

      “This is intended to simplify the customer experience,” the spokeswoman said. “Because the path will be direct, it will be simpler.”

      Dell will also realize the full return on financing instead of having to share it with CIT.

      Dell said the purchase price will be $306 million and the acquisition is not expected to have a material impact on the company’s results of operations or cash flows since Dell has included the financial arm in its financial statements since 2004.

      Raymond James & Associates Senior Vice President of Equity Research Brian Alexander said the deal was a finalization of an agreement that has been in place for the past few years and was not a reaction to recent gloomy economic news.

      Dell Financial Services was formed in 1997 by CIT and Dell to serve as a full-service financial services provider offering customer financing solutions for Dell customers throughout the United States.

      CIT’s vendor finance programs for Dell customers in Canada and in more than 40 other countries throughout Europe, Asia, Latin America and the South Pacific remain in place and are not affected by today’s announcement, CIT said in a statement. In addition, CIT continues to have the option to provide funding to Dell Financial Services through January 2010.

      Check out eWEEK.com’s Desktops & Notebooks Center for the latest news in desktop and notebook computing.

      Jessica Davis
      Jessica Davis covers the channel for eWeek and Channel Insider. Her technology journalism career began well before anyone heard of the World Wide Web and has included stints at Infoworld, Electronic News/EDN, and the Philadelphia Business Journal. Her work has also appeared on CNN and Forbes.com. She has covered hardware, software and networking, as well as the business side of technology. She has won several journalism awards, including a national ASBPE award for best staff-written column, and was named Marketing Computers hardest working tech journalist on their inaugural list of top tech journalists. Jessica can be reached at [email protected]

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      Chris Preimesberger - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      eWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×