Dell intents to acquire Dell Financial Services (DFS) Canada, a CIT vendor finance and Dell partnership.
Dell will also acquire CIT Vendor Finance ‘s Dell-related assets and sales and servicing functions in Europe.
Through the acquisition of these assets, Dell will enable global expansion of its direct finance model, said the company.
CIT Vendor Finance is currently a Dell financing partner operating on behalf of Dell Financial Services in more than 25 countries and will continue to support Dell for the transition period in Europe. CIT Vendor Finance will also continue to provide financing programs with Dell in select countries around the world beyond these transactions, including agreements in Latin America.
CIT Vendor Finance is a vendor finance and leasing, operating as Dell Financial Services, which provides vendor finance services to Dell customers for 14 years.
CIT Vendor Finance’s global reach has allowed Dell Financial Services to directly integrate its services with the needs and demands of Dell customers around the world, the company said.
Dell financial services president Don Berman said the company has grown by contributing to the success of their customers directly and through their valued relationship with CIT Vendor Finance.
"We’re able to offer customers end-to-end technology offerings and full financing capabilities to support them," Berman said.
"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."
