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With HP to create a new line of cloud servers

30th Apr 2014 12:18

RNS Number : 9167F
Hon Hai Precision Industry Co Ld
30 April 2014
 

Subject: To announce a joint venture agreement with HP to create a new line of cloud servers

Date of events: 2014/04/30

Contents:

1. Date of occurrence of the event: 2014/04/30

2. Counterparty to the contract or commitment:

Hewlett-Packard Company (NYSE: HPQ)

3. Relationship to the Company: Strategic partner

4. Starting and ending dates (or rescission date) of the contract or commitment: 2014/05/01

5. Major content (not applicable where rescinded):

5.1. HP and Hon Hai Precision today announced a joint venture agreement to create a new line of cloud-optimized servers specifically targeting cloud service providers.

5.2. The changing needs of cloud computing require a new approach to server design that brings together cloud solutions expertise, quick customer response and volume manufacturing. Creating innovative servers and solutions has been a cornerstone of the relationship between Foxconn and HP for several decades and today's announcement further strengthens the partnership. Foxconn's ability to deliver superior value throughout the supply chain, together with HP's industry compute leadership and industry-recognized service and support, will deliver new world-class computing platforms by bringing high-density, easy-to-manage, cost-competitive solutions to market.

5.3. The new product line will specifically address compute requirements of the world's largest service providers by delivering low total cost of ownership (TCO), scale, and service and support.

6. Effect on company finances and business (not applicable where rescinded): The joint venture will benefit the company.

7. Concrete purpose/objective (not applicable where rescinded):

The joint venture will bring together both companies' cloud solutions expertise, quick customer response, and volume manufacturing to fulfill the changing needs of cloud customers.

8. Any other matters that need to be specified:

The non-equity joint venture, in the form of a strategic commercial agreement, will take effect on May 1. Details on pricing and availability will be announced at a later date.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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