Sun Microsystems Finance Celebrates Five-Year Anniversary with New Options that Reduce Cost and Complexity while Allowing Customers to Innovate
Sun Microsystems, Inc. (Nasdaq: SUNW) today announced programs aimed at helping customers adopt recently UltraSPARC[R] IV technologies as they become readily available in CYQ2 2004. The new offerings are timed with the five-year anniversary of Sun Microsystems Finance to emphasize Sun’s commitment to delivering end-to-end solutions. Since its inception as a global capability in 1999, the group has offered Sun customers competitive, innovative financing for their total Sun solution, reducing cost and complexity and enabling customers to continually innovate throughout their entire IT lifecycle.
“Financing is becoming a necessary component to competitive bids around the world regardless of economic conditions, particularly for customers concerned about technology obsolescence and total lifecycle solutions,” said Kris Snow, senior director of Sun Microsystems Finance. “Sun has seen an increase in financing needs from customers and potential customers that are looking to finance for a broad range of reasons including better cash-flow management and as a strategic part of their technology refresh program. Sun’s financing capabilities are designed to provide value, reduce complexity, and enable innovation for our customers.”
Sun Microsystems Finance Introduces UltraSPARC Processor Migration Plans
Aimed at reducing long-term cost and simplifying migration to UltraSPARC IV systems, Sun Microsystems Finance is introducing two special, limited-time offers that make it easy and affordable for customers to acquire UltraSPARC III technology today with a defined migration process to UltraSPARC IV systems:
To entice customers that traditionally prefer to purchase technology, Sun is offering the acquisition of UltraSPARC III processor-based Sun Fire 4800 and 6800 systems for 50 percent down with the remaining 50 percent due in 12 months. From month six onward, customers have the option to acquire an UltraSPARC IV processor upgrade kit, and spread the cost over five interest-free payments. Or they can roll the entire balance due into an attractive leasing plan.
2. UltraSPARC III Processor “Two Payments on Us” Lease Option
Sun is also currently offering a 24-month below market rate lease for UltraSPARC III processor -based Sun Fire 4800 and 6800 systems. As part of this promotion, Sun will pay the first two monthly payments with absolutely no cost to the customer. Additionally, customers have the option to acquire an UltraSPARC IV processor upgrade kit, at any time after month six with no interest, by simply dividing the upgrade cost by the remaining term of the lease and adding the resulting sum to the existing monthly payment.
Both plans are available in the U.S. through Sun sales and Sun authorized iForce(sm) Partners. Offers expire June 30, 2004. All transactions subject to Sun Microsystems Finance credit and/or investment approval.
For more information on the UltraSPARC III processor migration plans please visit: www.sun.com/leasing.
Sun Microsystems Finance Completes Sun’s End-to-End Offering
In the five years since its inception as a global capability, Sun Microsystems Finance has grown from having hundreds of millions to over $1.5 billion in assets under management.
A reflection of the business unit’s rapid growth, Sun Microsystems Finance currently provides financing solutions to 90% of Sun’s customer base and handles transactions from $10,000 to $5 million. Today, Sun Microsystems Finance operates in 25 countries worldwide providing customers with competitive, total solutions financing for all Sun hardware, software, services and related third-party products.
Whether a large or small Sun implementation, Sun Microsystems Finance helps provide customers with flexible, highly affordable financing while easing migration to new technology and providing protection from technology obsolescence.
“For Intuit, it’s been the willingess of Sun Microsystems Finance to put together unique programs with creative terms that met our specific requirements,” said Ike Schneider, director of Enteprise Computing at Intuit. “As we learned in our extensive search for a financing source, price and flexibility are equally imperative when choosing a financing solution. Business factors change, and if we want to shorten or lengthen our product refresh cycles, with Sun Microsystems Finance we can.”
Finance Options Designed for the Total Solution
The expanding range of programs offered by Sun Microsystems Finance offer solutions for current IT challenges:
- Increasing Value – Sun Microsystems Finance can provide flexible financing plans that lower the total cost of IT ownership throughout the entire lifecycle. Partnering with Sun Microsystems Finance can enable Sun customers to match payment plans, risk, and upgrade cycles to their business needs.
- Driving Innovation – Working with Sun Microsystems Finance, customers’ financial solutions enable innovation. The business unit works closely with customers to tailor programs that meet their IT requirements today and offer easy refresh and upgrade paths to ensure continuous innovation tomorrow.
- Reducing Complexity – Financing through Sun Finance provides customers with one point of contact and one monthly invoice. Additionally, financing offers customers a predictable upgrade path enabling them to more effectively stay ahead of the technology curve.
“Sun Microsystems Finance created a customized plan that enabled us to match our monthly lease payments to our incoming revenues,” said Frank Gabriel, vice president of Finance for the State University of New York (SUNY). “They provided extremely competitive financing terms — better than other financing alternatives with less paperwork. Their staff operated very professionally and worked with us through a smooth process without complications. Looking back, I’d say we negotiated a win-win solution for both parties.”
The growing Sun Microsystems Finance product portfolio aims to offer tailored options for different needs including:
- Infrastructure Solutions Leasing which includes the recently expanded HP Away Migration Lease that helps allow HP customers to easily and affordably migrate to end-to-end Sun systems built with UltraSPARC and Sun Fire servers running the secure and scalable Solaris Operating System and Sun StorEdge(tm) arrays, providing a no-cost deferral period of up to 90 days for the migration, followed by below market rate financing for 36 months for the entire Sun Infrastructure Solution, including Sun hardware, software and services for qualifying customers.
The HP Away Lease is available in the US and Asia-Pacific through June 30, 2004. All transactions subject to Sun Microsystems Finance credit and/or investment approval.
- SMF Capacity Management Plans can allow customers to lower the initial investment costs of Sun solutions by tying payments to the actual amount of technology used, as measured in storage or processor capacityàpaving the way for a true utility computing model.
- Bundled Financing like the Sun Microsystems Finance Services Bundle plan offers qualifying customers 0% financing on services purchased with hardware equipment. This offering has driven more than $100 million in volume for nearly 200 customers in the U.S.
This offer is available in the US only through June 30, 2004. All transactions subject to Sun Microsystems Finance credit and/or investment approval.
For more information on Sun Microsystems Finance, please visit http://www.sun.com/leasing/
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision — “The Network Is The Computer” — has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 100 countries and on the World Wide Web at http://sun.com
Sun, Sun Microsystems, the Sun logo, Java, Solaris, Sun Fire, Sun StorEdge, iForce and The Network is the Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. in the United States and other countries. Products bearing SPARC trademarks are based upon an architecture developed by Sun Microsystems, Inc.