Compaq signs large tech deal with American Express
NEW YORK, Nov 29 (Reuters) - Compaq Computer Corp. (NYSE:CPQ - news) on Thursday said it signed a five-year, multi-million dollar agreement with financial giant American Express Co. (NYSE:AXP - news) to provide computers and services.
Compaq said the deal is similar in size to the five-year, $95 million agreement it signed with GE Aircraft Engines in October.
The company declined to provide a specific figure.
Compaq, which sells hardware and services, is in the midst of a merger with competitor Hewlett-Packard Co. (NYSE:HWP - news), which the companies say will enable them to compete better in an increasingly aggressive marketplace, particularly in services.
Compaq said it would provide American Express locations around the world with 25,000 Thin Client computers, which will be paid for on a monthly, per-seat basis, and 400 ProLiant server computers. In addition, Compaq will provide the services to manage those computers and servers.
``We launched our pay-on-demand service in the summer. We think this is a very important new trend,'' said Peter Blackmore, Compaq vice president of worldwide sales and services.
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