3i Infotech forays into China

BANGALORE, INDIA: IT solution provider 3i Infotech today announced the signing of a Memorandum of Understanding with Yucheng Technologies Ltd, provider of IT solutions and services, to set up a 51:49 joint venture in China.

The agreement is aimed at promoting 3i Infotech’s BFSI products and related services in the growing Chinese market.

Weidong Hong, CEO Yucheng Technologies Ltd, said, “I am confident that Yucheng’s reach in the Chinese market combined with 3i Infotech’s product capabilities will greatly benefit the Chinese BFSI market.”

V Srinivasan, MD and CEO, 3i Infotech, said, “The Asian markets in particular are of keen interest to us, given the huge growth potential they offer.”

Beijing-headquartered Yucheng Technologies is a NASDAQ-listed company with more than 1,700 employees and has established an extensive footprint to serve its banking clients nationwide.