Reading-based reseller Teneo has launched its own leasing
service for customers looking to acquire wide area network (WAN)
optimisation solutions.
Last year, the reseller doubled revenues to £8 million (€9.1
million), and following the fall in interest rates, is now
keen to make the most of its cash reserves.
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“Because the company has been successful, we have built up a
stockpile of cash,” Piers Carey, chief executive of Teneo, said.
“We have an asset we are under-utilising.”
Carey believes offering leasing in-house will yield returns of
nine to 10 percent and would give Teneo greater control than if it
were provided by a third party. The company has ring-fenced a
six-figure sum of cash into the programme, but added that it might
team up with a specialist lessor after its own funds dry up.
Teneo has a major partnership with Riverbed, a pan-European
vendor specialising in WAN optimisation, and, according to the
weekly trade magazine CRN, still draws 60 percent of sales
from the vendor.
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