PALO ALTO, CA AND TAIPEI — HP and Foxconn today announced a joint venture agreement to create a new line of cloud-optimized servers specifically targeting service providers. The move marks the latest agreement between the computer OEM and one of its largest manufacturing partners. 

Terms were not disclosed, other than the agreement entails a joint service arrangement and no equity and takes effect May 1.

Foxconn builds laptop and desktop PCs, servers and printers for HP at various sites in China, Mexico and Europe.