Asia Express - Computing
NEC, Neusoft to Set Up JV for Cloud Computing Services in China
September 03, 2010
NEC and Neusoft agree to establish a joint venture in Dalian, China to offer cloud computing services for Chinese small- and medium-sized enterprises and manufacturers with export business, according to an August 31, 2010 report by the Financial Times. Neusoft is a Chinese company focusing on providing IT solutions and services. NEC is reported to own a 70% stake of the JV, and the company estimates that the Chinese cloud computing market will grow by 30% each year, reaching US$2.3 billion by 2012. It is reported that the JV will recruit 70 employees at the initial stage, and operation is slated to begin in October 2010.