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Intel announces 40-million investment in Chinese software company

SHANGHAI, September 28 (CEIS) -- Neusoft Group Ltd., a leading Chinese software and solutions provider, is expected to obtain financial support from the Intel Corporation, company sources announced on September 27.

SHANGHAI, September 28 (CEIS) -- Neusoft Group Ltd., a leading Chinese software and solutions provider, is expected to obtain financial support from the Intel Corporation, company sources announced on September 27.

According to an agreement the two sides reached the agreement Tuesday in 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 sources said the project was waiting for a go-ahead from industry regulators.

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 Optimization Competency Center based on Intel architecture and platforms. The 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 two will work together on designing and developing healthcare products and embedded systems.

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