Canadian-based language software developer Zi Corp saw its stock soar on the Toronto Stock Exchange and Nasdaq after announcing it will hold a 85% stake in a new joint venture with China’s Ministry of Education which will bring its products to 240 million students. The ministry said it will use Zi’s Chinese smart text input software, which will allow students to work in Chinese characters on computer equipment throughout its network of nearly a million educational institutions.
Zi is also looking to the rapidly growing and potentially massive Chinese information appliances market for the bulk of its profits in China. Its software can be used to operate many of the appliances including modified PCs, VCRs, handheld computers, mobile phones and set-top boxes. As well as expanding our presence in the China market, the partnership with the education ministry will, more importantly, create a strong user base for China’s future information appliance consumers, said Wallie Ritchie, Zi’s managing director for Greater China.
