HP and Nokia to extend global IT services agreement for up to five years.HP (NYSE NYSE See: New York Stock Exchange :HPQ HPQ Hewlett-Packard Corporation (NYSE) HPQ High Priority Queue ) has announced that it has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Nokia to renew and expand the companies' existing global information technology services relationship for up to five years. Under the terms of the agreement, originally signed in September 2001, HP manages the IT infrastructure and operations for Nokia globally. The intended renewal of the agreement will extend the HP and Nokia collaboration in the IT infrastructure area up to eight years altogether. The focus of the existing agreement has been on transforming Nokia's fixed IT environment into a flexible, scalable infrastructure while improving service performance and minimizing recurring fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). . During the first two years of the relationship, the agreement has delivered significant savings, even exceeding the original target set by Nokia. ... Under the terms of the extended agreement, Nokia's IT environment will evolve to a service-based model. The model enables the IT environment to meet varying business needs as well as to enable billing based on actual IT service consumption and different support requirements by Nokia's businesses. The service-based model is a reflection of the HP Adaptive Enterprise strategy, in which IT and business are synchronized and companies are able to achieve greater business agility--the ability to respond to and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. changes in market conditions or customer demands. "Our collaboration with Nokia demonstrates the power of the HP Adaptive Enterprise vision, which enables better business effectiveness, reduced operational costs and the use of allocated IT resources according to the needs of different businesses," said Francesco Serafini, senior vice president and general manager, Europe, Middle East and Africa, HP Services. "We are very pleased with the progress and cost savings that have been achieved during our collaboration with HP in the IT infrastructure services area," said Gordon Jack, vice president, Business Infrastructure, Nokia. "Now, by adopting HP's vision for the Adaptive Enterprise, we are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. greater flexibility in terms of service (networking) Terms Of Service - (TOS) The rules laid down by an on-line service provider such as AOL that members must obey or risk being "TOS-sed" (disconnected). levels and billing through the new service-based model." The expanded agreement is expected to be signed during 2004. |
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