Intel invests US$40m in Neusoft
By Li Jian (China Daily)
Updated: 2006-09-27 15:45
SHANGHAI: Neusoft Group Ltd, a leading Chinese software and solutions
provider, announced yesterday that Intel Corp has agreed to invest US$40 million
in the company to help it strengthen its presence in the health care and
financing software market.
The investment is the largest yet by the
US$200 million Intel Capital China Technology Fund, launched by Intel last year
to invest in Chinese technology companies developing innovative hardware,
software and services, according to Arvind Sodhani, president of Intel Capital,
Intel's venture investment arm.
The two companies also signed a business
co-operation agreement to further their strategic ties in software and hardware
integration, education and training.
The agreement will allow Neusoft to
build a Solution Performance Optimization Competency Centre based on Intel's
architecture and platforms to enhance Neusoft's research and cost-cutting
capabilities.
Liu Jiren, chairman and CEO of Neusoft Group, yesterday
said: "The co-operation with Intel will help Neusoft enhance its self innovation
capability and enable Neusoft to provide better products and solutions in line
with international norms for customers, as well as driving the development of
China's software industry."
He told China Daily the agreement paved the
way for further co-operation especially in the digital health care
market.
Neusoft, founded in 1991, is one of the China's largest suppliers
of software solutions for the health care market. So far, it reportedly has
around 3,000 hospital clients. In total Neusoft has more than 8,000 corporate
clients in China, according to company president Wang Yongfeng.
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