Microsoft Invests $13 Mln in Chinese IT
The American Microsoft corporation has injected 13 million U.S. dollars in a Chinese IT company to develop softwares, according to sources of the Chinese company.
In August of 2005, Microsoft and the Jinan-based Langchao Group in east China's Shandong Province struck a 25-million-U.S.-dollarsagreement to produce softwares for Chinese customers.
Under the agreement, the money will be used for developing softwares for enterprise resource planning (ERP), e-government and other supporting services.
The two corporations have scored many achievements in their cooperation since they established a global strategic partnership in Nov. 2004. The Microsoft-Langchao online laboratory has officially gone into operation.
The remaining investment of 12 million U.S. dollars will be in place by June 2006, said sources with Langchao Group.
Langchao Group, founded in 1989, is the largest provider of application and resolution of IT industry in China. It has two stock companies, "Langchao Information" and "Langchao Software." Now the group adopts an international strategy which aims at American and European markets.