Sompo Systems forms capital tie-up with Chinese IT firm Neusoft
TOKYO, NNA - Sompo Systems Inc. under the wing of Sompo Japan Insurance Inc. has forged a capital tie-up with major Chinese software developer and diversified IT firm Neusoft Corp.
Sompo Systems said its Chinese subsidiary, Sompo Systems (Dalian) Inc. established in 2010, signed the deal in the form of a joint venture with Neusoft on Dec. 20 last year to beef up system development and curb system operational costs.
Under the deal, Sompo Systems holds a 70 percent stake in the Dalian unit and Neusoft the remaining 30 percent.
According to Sompo Systems, Neusoft is one of China's major IT solution providers and engaged in electric vehicle development, car-sharing, nonlife insurance, healthcare and other businesses in collaboration with Japanese companies operating in China. (NNA/Kyodo)