The UK arm of NetApp Financial Solutions expects to grow how
much it finances of its parent’s business by 5 percent over coming
months.
It currently has a 10 percent penetration rate of sales by
NetApp, the data storage provider. Sharon Butler, regional
operations manager at NetApp FS for Europe, Middle East and Asia,
however, ruled out significant growth.
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“Some believe we can attain 20 percent, but I think that’s too
adventurous. The reality is that 15 percent of NetApp’s sales would
be great,” she said.
NetApp FS has global funding agreements with Key Equipment
Finance and Bank of America, as well as with local funders to meet
funding needs across EMEA.
The EMEA business of NetApp FS is expected to reach €100 million
by May 2009, the end of the company’s next fiscal year.
The company is relatively small compared with some of its
competitors, including Cisco, Seagate Technology and EMC, but has
grown 40 percent year on year since it was brought to the EMEA
region four years ago. The American arm of NetApp FS, created eight
years ago, is a much larger operation.
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By GlobalDataIn 2009 the US arm of NetApp FS is expected to start writing
deals in Asia Pacific in preparation for setting up offices in the
region.
