Shanghai, September 26, 2006 – Neusoft Group Ltd, a leading Chinese software and solutions provider and Intel Corporation, announced that Intel Capital, Intel's venture investment arm, has agreed to invest US$40 million in Neusoft from the US$200m Intel Capital China Technology Fund, subject to regulatory approvals and other customary conditions. Intel Capital's investment, the largest to date by the Fund, will be used to expand Neusoft's hardware and software integration services and training capabilities.
Neusoft and Intel also announced signing of a business cooperation agreement to further strengthen their strategic cooperation in software and hardware integration, education and training.
Under the terms of the business agreement, Neusoft will establish a Solution Performance Optimization Competency Center based on Intel architecture and platforms. This Center is intended to offer Neusoft's customers increased IT infrastructure alternatives with better performance at more competitive prices. Intel intends to collaborate with Neusoft in the development and application of related software products.
The Neusoft Institute of Information will work with Intel to co-develop an interactive university education and certification training program to increase technical talent for the Chinese market focusing on Intel architecture and tools. Intel and Neusoft will also collaborate on joint curriculum development and training for a variety of sectors including: manufacturing, medical equipment home appliance and control along with other embedded applications.
Chairman and CEO of Neusoft Group, Dr. Liu Jiren said: “The cooperation with Intel this time further strengthens the relationship of two parties, which will show the confidence of both sides for continued cooperation. Neusoft has gained many technologies and experience in software solutions and digital health through innovation in the past years and obtains a leader position in the market. The cooperation with Intel will also help Neusoft to enhance the self innovation capability of Neusoft products and solutions. It will enable Neusoft to provide better products and solutions in line with international norms for customers and drive the development of the Chinese IT software industry.“
Mr. Arvind Sodhani, President of Intel Capital, stated: “The investment in Neusoft, the largest to date by the Intel Capital China Technology Fund, demonstrates our continuing efforts to encourage entrepreneurship and technical capabilities in China.“ Mr. Sodhani continued: “Intel Capital's investments combined with our active company building efforts will foster the growth and competitiveness of Chinese technology companies both at home and around the world. We remain committed to fostering the growth of high technology in China.“
“The cooperation with Neusoft marks a further step in Intel's on-going commitment to the development of China's software industry around Intel architectures,“ says Ms. Renee James, Intel Corporate Vice President and General Manager, Software and Solutions Group. “This collaboration will enhance the core technology and market development capabilities of domestic software enterprises. We expect our cooperation and technical support of local software enterprises to shorten R&D cycles and inspire software and solution innovations based on Intel's newest CoreT microarchitecture. Through the strategic cooperation with Neusoft, enterprises can enjoy the best performance of localized software and solutions running across Intel's platforms.“
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Neusoft
Neusoft Group is a leading software and solution provider in China. Founded in 1991, Neusoft has three inter-promoting business units that are engaged respectively in software & services, medical systems and IT education & training, supported by a total staff of over 10,000. In addition, the Company has set up software parks in Shenyang, Dalian, Chengdu and Nanhai for further R&D and HR reserves. After successfully constructing a complete sales & service network covering over forty cities around China, it has further extended its branches to the US and Japan. At present, Neusoft offers products and services to over 8,000 large customers, maintaining leading market shares in telecommunications, social insurance, enterprises, electric power, tobacco, network security and other sectors. It is also China's largest offshore software outsourcing service provider.
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