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Bank of America terminated HP, so now Cisco's suing HP to collect $58 million

According to a 110-page court brief filed earlier this week, Cisco's accusing HP of seeking a financial windfall from Cisco.

Tallahassee, Florida:   Fri, 8/28/15 - 11:59pm    View comments

Bank of AmericaCiscoBefore being acquired by HP, EDS and Bank of America announced the deployment of 100,000 Cisco IP phones which became Cisco's largest enterprise VoIP deployment.

HPAfter the acquisition, EDS became HP Enterprise Services.

Then Bank of America requested the termination of HP enterprise voice (VoIP) services globally on various dates in 2013 and 2014.

On June 19, 2014 HP gave notice of termination to Cisco for SMARTnet and Integrated Service Model (ISM) support as specified in the Letter Agreement between HP and Cisco dated December 21, 2012, pursuant to the Global Systems Integrator Agreement (CW265168) dated May 25, 2011.

Robert ElkinHP attorney Robert Elkin states:

"HP purchased the right to terminate the Letter Agreement early and to receive a full credit from Cisco. Cisco, however, is refusing to comply with its contractual obligation to provide a full credit under the Letter Agreement..."

Meanwhile in its court brief, Cisco claims that HP still owes Cisco Capital $58 million.

Related document:

110-page Cisco vs. HP court brief

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