Ernst & Young, IBM unit sign business financing deal

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New York--Ernst & Young L.L.P. announced Monday that IBM Corp. subsidiary IBM Global Financing, North Castle, N.Y., will provide financing to Ernst & Young L.L.P's electronic-commerce consulting clients. The agreement marks the first time that IBM Global Financing, the world's largest provider of information technology financing, has entered a contract of this type with an independent consulting company. Ernst & Young L.L.P's announcement comes as it is negotiating a deal to sell its consulting arm, Ernst & Young Consulting, to Paris-based Cap Gemini SA for $4.8 billion.
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