Intel to invest $40 mn in Chinese firm
This will be the largest investment of the Intel Capital China Technology Fund since it was established.
By PTI |
BEIJING: Intel Corporation will invest 40 million US dollars in Neusoft Group Ltd., a leading Chinese software and solutions provider to expand its operations, media reports said here on Thursday.
According to an agreement the two sides reached the agreement Tuesday in the eastern Chinese metropolis, Shanghai, the world leading CPU supplier will, through its venture capital arm, invest 40 million U.S. dollars in Neusoft.
This will be the largest investment of the Intel Capital China Technology Fund since it was established.
The project was waiting for a go-ahead from China's industry regulators, Xinhua news agency reported.
The money will be used to expand the Neusoft's hardware and software integration services and training capabilities.
Meanwhile, the Neusoft and Intel also signed a business cooperation agreement to strengthen strategic cooperation in software and hardware integration, education and training.
Under the accord, Neusoft will establish a Solution Performance Optimisation Competency Centre based on Intel architecture and platforms. The centre 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 two will work together on designing and developing healthcare products and embedded systems.
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