Neusoft Acquires Finnish Mobile Solutions Company
SHENYANG, China, -- Neusoft Corporation ("Neusoft", 600718.SH) announced that it has signed an agreement with the Finnish software company Sesca Group Ltd. under which Neusoft will acquire Sesca's mobile phone software development and testing business operations in Finland and Romania. According to the agreement, Sesca's subsidiaries, Sesca Mobile Software Oy, Almitas Oy and Romania-based Sesca Technologies SRL will be integrated into Neusoft global mobile solution business unit and will employ nearly 250 employees in Europe.
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The acquisition is subject to regulatory approvals in China and is expected to close during autumn 2009. The value of the acquisition has not been disclosed.
In the last few years, Neusoft has been consistently building significant mobile expertise and employs now more than 1,200 highly skilled engineers in the mobile solutions development and testing. Among others, Neusoft mobile solutions customers include Nokia, China Mobile, and some other Japanese and US phone makers. By acquiring exceptional talents and additional customers through the Sesca acquisition, Neusoft is strengthening its position as a leader in the global product engineering market.
"Neusoft is very pleased that with this acquisition we can significantly strengthen our expertise in mobile phone software development and testing. Sesca's know-how is world class, and by uniting the business operations of Sesca and Neusoft, we become one of the leading global companies in mobile phone software development and testing," says Liu Jiren, Chairman & CEO of Neusoft Corporation.
Jarmo Leino, Chairman of Sesca Group said: "As a global company, Neusoft will enhance its core compentence by acquiring the talents and mobile phone software development and testing business from Sesca, which will also create more value to the customers. On the other hand, now Sesca has partnering opportunities with Neusoft in other business areas as well."
About Neusoft Corporation
Neusoft is a leading IT solutions & services company and the largest offshore software and service outsourcing provider in China. For more information about Neusoft, please visit: http://www.neusoft.com/en .
About Sesca Group
Finland-based Sesca Group is an international growth company which delivers instrumentation and control systems as well as ICT systems for companies within energy production, process and ICT industries. For more information about Sesca, please visit: http://www.sesca.com
(Logo: http://www.newscom.com/cgi-bin/prnh/20061219/CNTU012LOGO )
The acquisition is subject to regulatory approvals in China and is expected to close during autumn 2009. The value of the acquisition has not been disclosed.
In the last few years, Neusoft has been consistently building significant mobile expertise and employs now more than 1,200 highly skilled engineers in the mobile solutions development and testing. Among others, Neusoft mobile solutions customers include Nokia, China Mobile, and some other Japanese and US phone makers. By acquiring exceptional talents and additional customers through the Sesca acquisition, Neusoft is strengthening its position as a leader in the global product engineering market.
"Neusoft is very pleased that with this acquisition we can significantly strengthen our expertise in mobile phone software development and testing. Sesca's know-how is world class, and by uniting the business operations of Sesca and Neusoft, we become one of the leading global companies in mobile phone software development and testing," says Liu Jiren, Chairman & CEO of Neusoft Corporation.
Jarmo Leino, Chairman of Sesca Group said: "As a global company, Neusoft will enhance its core compentence by acquiring the talents and mobile phone software development and testing business from Sesca, which will also create more value to the customers. On the other hand, now Sesca has partnering opportunities with Neusoft in other business areas as well."
About Neusoft Corporation
Neusoft is a leading IT solutions & services company and the largest offshore software and service outsourcing provider in China. For more information about Neusoft, please visit: http://www.neusoft.com/en .
About Sesca Group
Finland-based Sesca Group is an international growth company which delivers instrumentation and control systems as well as ICT systems for companies within energy production, process and ICT industries. For more information about Sesca, please visit: http://www.sesca.com
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