Software and information service provider ChinaSoft International and ICT applications provider Huawei have establish a new joint venture company ChinaSoft International Technology Service in the Xi’an High-Tech Industries Development Zone (XHTZ).
ChinaSoft International had signed the agreement with Huawei on 12 January 2012, to establish a joint venture which will focus on software outsourcing business with ChinaSoft International holding 60% stake in JV and Huawei holding remaining stake.
The new joint venture is expected to combine ChinaSoft International’s experience in outsourcing business with delivery management and HR management practice of Huawei.
ChinaSoft International chairman and CEO Chen Yuhong will be the chairman of the new joint venture while Huawei senior vice president Ding Yun will be a board member while the JV is expecting an annual revenue of RMB 3.6bn ($369m) in the third year of operation.
The joint venture will also promote the pattern formation of domestic outsourcing industry, the company said.
ChinaSoft International chairman and CEO Chen Yuhong said,"ChinaSoft International and Huawei will share the common goal to develop and manage the joint venture and look forward to the bright future."
