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IBM Global Financing, the lending and leasing division of IBM (NYSE: IBM), today announced that it will provide a comprehensive leasing solution for Saint Leo University, Florida's first Catholic Institution of higher learning, to help the institution acquire new computers for its more than 13,000 traditional campus and adult continuing education students.Under the terms of the agreement, IBM Global Financing will provide a 36-month fair market value lease at competitive rates on Lenovo ThinkPad notebooks and Lenovo personal computers. IBM Global Financing is the preferred financing provider for all Lenovo products.
"Today, more educational institutions are looking at leasing as a viable option," said Richard Dicks, general manager, Americas, IBM Global Financing. "IBM Global Financing solutions can enable colleges and universities to leverage new technology, attract and retain the best and the brightest faculty and students and get more IT equipment, software and services with fewer resources and limited up front costs."
Growing pressures on educators are creating new challenges for learning institutions, including reduced funding, increasing costs, security concerns, new standards to implement, increased accountability, stronger integration, more student services, new networks, devices, and online services. Colleges and universities are challenged to do more with less, while improving the quality of education.
Technology leasing can bring a host of benefits for academic institutions, including providing a hedge against technology obsolescence. Leasing preserves cash and credit lines for more strategic university investments and can accelerate the implementation of the most current technology to improve efficiency and productivity. From a purely financial standpoint, leasing reduces the total cost of ownership, improves price-performance and improves key financial measurements such as return assets or debt-to-equity ratios.
More than 1,000 students live and study at the main campus in Saint Leo, nestled in the rolling hills of west central Florida just 30 minutes north of Tampa. Another 12,000 students pursue associate's and bachelor's degrees at the university's 15 Continuing Education centers in five states and through the Saint Leo's Center for Online Learning. Throughout its history, Saint Leo has provided a solid liberal arts education grounded and based on the 1,500-year-old tradition of Benedictine values.
About IBM Global Financing
IBM Global Financing (IGF), the financing business segment of IBM and the world's premier single-source provider for multivendor IT financing solutions, serves commercial clients ranging from small businesses to the majority of the Fortune 100. With assets of $31 billion worldwide, IGF provides project financing, commercial financing and asset-recovery services to 125,000 clients in more than 40 countries. Additional information can be found at http://www-03.ibm.com/financing/us/
About Lenovo
Lenovo (HKSE: 992) (ADR: LNVGY) is dedicated to building the world's best engineered personal computers. Lenovo's business model is built on innovation, operational efficiency and customer satisfaction as well as a focus on investment in emerging markets. Formed by Lenovo Group's acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable high-quality, secure and easy-to-use technology products and services worldwide. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information, see www.lenovo.com/us/en
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