SOURCE: IBM

September 25, 2006 14:00 ET

Symbol Technologies Launches Customer Financing Program With IBM Global Financing

ARMONK, NY and HOLTSVILLE, NY -- (MARKET WIRE) -- September 25, 2006 -- IBM Global Financing (NYSE: IBM) and Symbol Technologies, Inc. (NYSE: SBL), The Enterprise Mobility Company™, today announced completion of a five-year strategic financing services agreement, enabling Symbol customers to benefit from more options to finance their enterprise mobility products, software and services.

As Symbol's financing partner, IBM Global Financing will provide Symbol's worldwide corporate and small-business customers with a variety of payment plans to acquire Symbol's hardware, software and services.

"We are excited to extend our relationship with IBM, leveraging their position as the world's leading IT financing company to add value to Symbol customers and partners who desire financing solutions for Symbol-based solutions," said Sandy Preizler, Symbol's vice president of worldwide channels. "Our market-leading enterprise mobility solutions -- paired with the IBM's unique financing capabilities -- enhance our business potential, further building on the Symbol-IBM Global Strategic Alliance."

"Symbol Technologies is a leader in enterprise mobility. This agreement highlights IBM Global Financing's expanding scope of providing non-IBM IT suppliers with the financing tools they need to go-to-market with their end-user clients," said Mark Young, vice president of IBM Global Financing. "With limited capital being an inhibitor to wholesale adoption of enterprise mobility solutions, this deal provides a solution for customers wanting to capture the benefits of this emerging technology."

IBM Global Financing's worldwide presence, with operations in more than 40 countries, and a global sales team of nearly 1,000 finance sales executives will provide a significant base to help support Symbol's corporate plans.

About IBM Global Financing

IBM Global Financing (IGF), the lending division of IBM and the world's largest IT financier, serves commercial clients ranging from small businesses to the majority of the Fortune 100. With assets of $31 billion, 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 Symbol Technologies

Symbol Technologies, Inc., The Enterprise Mobility Company™, is a recognized worldwide leader in enterprise mobility, delivering products and solutions that capture, move and manage information in real time to and from the point of business activity. Symbol enterprise mobility solutions integrate advanced data capture products, radio frequency identification technology, mobile computing platforms, wireless infrastructure, mobility software and world-class services programs. Symbol enterprise mobility products and solutions are proven to increase workforce productivity, reduce operating costs, drive operational efficiencies and realize competitive advantages for the world's leading companies. More information is available at www.symbol.com.

Contact Information


  • For IBM Global Financing:
    For media information:
    Fred Clarke
    IBM Global Financing
    914.765.6700 (office)
    914.715.5986 (cell)
    fredc@us.ibm.com

    For Symbol Technologies:
    For media information:
    Ed Tan
    Symbol Technologies, Inc.
    408.421.5132
    ed.tan@symbol.com

    For financial information:
    Lori Chaitman/Nancy Coco
    Symbol Technologies, Inc.
    631.738.5050
    lori.chaitman@symbol.com

    For industry analyst information:
    Shirley Schroedl
    Symbol Technologies, Inc.
    631.738.4823
    shirley.schroedl@symbol.com