CDC Global Services Signs Agreement with Nanjing High-Tech Zone to
0 Comments | Wireless News, Nov 7, 2009
CDC Global Services, a subsidiary of CDC and a provider of consulting, IT and IT-enabled professional services, announced it has executed a term sheet with the Nanjing High-Tech Zone (Nanjing New & High Technology Economic Development) to acquire a 35 percent stake, with an option for up seo consultant to a 51 percent stake, in Sowell, known also as the platform of Jiangsu Microsoft Technology Center, that is expected to help fuel CDC Global Services’ expansion in the growing IT outsourcing (ITO) services market in China.
Sowell operates its ITO businesses, which also include R&D; outsourcing services, in Nanjing, Wuxi, Suzhou and Huaian and was the exclusive technology base of Microsoft in Jiangsu Province. Jiangsu Microsoft Technology Center, is a Microsoft Technology Center where it provides research and development services to Microsoft.
“We expect that this planned acquisition will serve as the launch pad for expanding our IT/R&D; outsourcing capabilities in China to serve our global clients,” said C.K. Wong, chairman of CDC Global Services. “As part of our acquisition strategy, Sowell is expected to serve as the platform for rolling up other Microsoft Technology Centers and expanding our services throughout China.
“Notably, this planned acquisition also further strengthens our relationship with the Nanjing government, and we expect to continue our expansion in this region