Dell to Purchase Assets in Canada, Europe

Dell anounced Friday that it plans to purchase Dell Financial Services Canada Ltd. and CIT Vendor Finance’s Dell-related assets and sales and services business in Europe.

The Canadian acquisition is scheduled to close by midyear. The European deal would be completed during 2012, according to the company.

This acquisition is an important enabler of Dell’s increasing focus on providing customers with open and affordable technology solutions. Dell will have full ownership of the customer lifecycle and will capitalize on the scale of its U.S. operations to provide seamless financing services and competitive incentives.

"Dell Financial Services has grown by contributing to the success of its customers directly and through our valued relationship with CIT Vendor Finance, which remains strong. We’re able to offer customers end-to-end technology solutions and full financing capabilities to support them," said Don Berman, president, Dell Financial Services. "Dell has a long-term strategic vision to expand our global captive financing footprint over time into regions where it makes sense. These acquisitions should help us achieve this vision."

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