3i Infotech to foray into China, forms JV with Yucheng Tech

New Delhi, Feb 19: Global technology solutions and services provider 3i Infotech Ltd today inked an agreement with China-based Yucheng Technologies to from a joint venture (JV) company for providing software products and services in China.

3i Infotech will hold 51 per cent share in the JV, while the 49 per cent will be owned by Yucheng Technologies, a statement said. Yucheng, a leading provider of IT solutions and services to Chinese banks and financial services companies, is a NASDAQ listed company. ''With Yucheng's focus on and deep knowledge of the banking industry in China and its dynamics, the synergies between their business goals and those of 3i Infotech made them a natural choice for our foray into China,'' 3i Infotech MD and CEO V Srinivasan said.

UNI