Monday, May 22, 2006
SAP to expand in Chinese software market via tie-up with China's Neusoft - Forbes.com
SAP to expand in Chinese software market via tie-up with China's Neusoft - Forbes.com: " SAP AG will sign a cooperation agreement with China's Neusoft today in order to expand its presence in the Chinese software market, chief executive Henning Kagermann told the Financial Times Deutschland.
'The strategic investment shows that this cooperation is going to be quite meaningful,' Kagermann told the newspaper.
Kagermann said Neusoft's main attraction is its qualified workforce, which makes software specifically for the Chinese market.
Industry sources told the newspaper that SAP will invest 10 mln eur in Neusoft and receive a 3 pct stake in the company."
'The strategic investment shows that this cooperation is going to be quite meaningful,' Kagermann told the newspaper.
Kagermann said Neusoft's main attraction is its qualified workforce, which makes software specifically for the Chinese market.
Industry sources told the newspaper that SAP will invest 10 mln eur in Neusoft and receive a 3 pct stake in the company."
