IBM Acquires Sequent Financial Services Portfolio

LONDON (04/14/2000) - IBM Corp. has acquired the leasing portfolio of Sequent Financial Services, the company announced today.

The portfolio, purchased by IBM's IT financing branch, IBM Global Financing, mainly covers U.S.-based customer lease contracts for Sequent's NUMA-Q 2000 processors, IBM said in a statement today. Terms of the transaction were not disclosed.

The Sequent division was formerly part of Sequent Computer Systems Inc., which IBM purchased last year. [See "IBM Acquires Sequent for $810 Million," July 12, 1999.]NUMA-Q (non-uniform memory access) servers are high-end, Intel-based servers that run Unix, Windows NT or both operating systems and are typically used to run data warehousing, business intelligence and other heavy-duty applications.

The acquisition of the portfolio will allow customers to arrange lease upgrades and extensions for installed NUMA-Q processors, according to IBM. Former Sequent customers who were doing business with both IBM and Sequent can now do all their business through IBM Global Financing.

Last year, in a similar move, IBM purchased Comdisco Inc.'s mainframe leasing portfolio.

Sequent, in Beaverton, Oregon, can be reached at +1-503-626-5700 or on the World Wide Web at http://www.sequent.com/. IBM, in Armonk, New York, can be reached at +1-914-499-1900 or on the Web at http://www.ibm.com/.

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