Sun Microsystems said Tuesday it formed a new business unit called Sun Microsystems Finance to allow its customers to buy Sun workstations, servers, and software using a range of financing services.
The company said the new unit was created through an alliance it signed with General Electric's GE Capital Vendor Services business. Financial terms were not disclosed.
Sun hopes the financing unit will ensure that its customers have access to options for acquiring Sun products and services -- and complementary third-party, non-Sun technology.
GE Capital Vendor Services business will supply Sun's finance unit with geographic reach, access to capital, and broad financial offerings, Sun said.
The new unit is introducing Sun ValuePlus, a new family of financing solutions that will enable Sun customers to minimize risk and optimize the return on their entire technology investment, the company said.
Sun also sees the unit as a boon to companies that resell Sun products, providing those companies with a broader selection of financing programs.
The finance unit will be fully operational effective Monday and will be jointly managed by Sun and GE, with three members from each company serving on the board of directors.
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