Huawei and ChinaSoft forms JV

Huawei and ChinaSoft International has signed a contract to establish a joint venture (JV) company specializing in the software outsourcing business.

According to the contract, ChinaSoft International will hold 60 percent of the joint venture with Huawei having 40 percent share.

Huawei is an important client of ChinaSoft International's outsourcing business. By combining the qualities of both companies into this new joint venture, the vast experience of both companies can contribute to the creation of this new, top-ranking software outsourcing company.

''We are expecting to reach our strategic goal of 10 billion RMB in 2015 through restructuring. The joint venture with Huawei is another strategic partnership with a world leading company and these partnerships will enable us to boost our competitiveness,''said Dr Chen Yuhong, CEO and Chairman of ChinaSoft International.

Dr Chen Yuhong will also be the chairman of the the new JV company.

''We will contribute management and key technology staff to the joint venture so that we can provide it with optimal support by sharing our best practices regarding the management of quality, R&D as well as human resources,'' said Ding Yun, senior VP, Huawei, who will become a board member of the joint venture company.