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HP Provides Global IT Leasing for Marketing and Communications Organization Omnicom Group

^{Published on 2010-06-14 04:50:34 - Market Wire}
 

PALO ALTO, Calif.--([ BUSINESS WIRE ])--HP (NYSE:HPQ) today announced it has signed an expanded agreement with [ Omnicom Group ], a leading global marketing and corporate communications company, to provide IT asset leasing services to Omnicom brands worldwide.

"This has worked so well in North America that we want to extend the advantages to our brands worldwide"

The agreement between Omnicom and [ HP Financial Services ], the companya™s leasing and life cycle asset management services division, is valued at up to $25 million annually. It enables Omnicom brands worldwide to acquire IT equipment a" such as notebook and desktop PCs, printers, multifunction devices, servers and storage a" directly from HP or through local value-added resellers.

Under the terms of the new agreement, Omnicom offices also can have the charges integrated into a consolidated statement from HP Financial Services under lease terms established in a global master agreement. This provides Omnicom with economies of scale and preferred rates on leasing.

HP Financial Services has provided IT leasing services to Omnicom brands in the United States and Canada for the past five years. This agreement extends the coverage to Omnicom brands in more than 40 countries.

Extending Omnicoma™s advantages worldwide

aThis has worked so well in North America that we want to extend the advantages to our brands worldwide,a said Eric Huttner, senior vice president, finance, Omnicom. aNow when our offices in New Zealand, Poland or elsewhere need IT equipment they can order it from a designated reseller and the invoicing automatically rolls into our master lease agreement with HP Financial Services.a

As leases expire, older equipment is returned to HP Financial Services for remarketing. The company manages more than 1 million units annually in secondary markets.

Based in Murray Hill, N.J., HP Financial Services makes it easy and economical for clients to deploy world-class technology in ways that meet their business needs, and also helps clients manage the risk of dealing with older or surplus IT equipment.

About Omnicom Group

Omnicom Group (NYSE: OMC) is a strategic holding company that manages a portfolio of global companies operating in the disciplines of advertising, marketing services, specialty communications, interactive and digital media, as well as media buying services.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The worlda™s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at [ http://www.hp.com ].

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