Intel Capital, the venture capital arm of Silicon Valley’s large chip giant, has invested $40 million into Neusoft, a Shanghai-based software provider.
The investment is subject to regulatory approvals and other customary conditions, the company said in a release sent to VentureBeat Tuesday.
Founded in 1991, Neusoft has three business units that offer software & services, medical systems and IT education & training. It is a big company, having a staff of over 10,000. So this is not your typical venture investment. Indeed, it is part of a package of agreements to strengthen cooperation between the two companies, including a move by Neusoft to offer products on Intel’s architecture and platforms.
From the release:
Under the terms of the business agreement, Neusoft will establish a Solution Performance Optimization Competency Center based on Intel architecture and platforms. This Center is intended to offer Neusoft’s customers increased IT infrastructure alternatives with better performance at more competitive prices. Intel intends to collaborate with Neusoft in the development and application of related software products.
The Neusoft Institute of Information will work with Intel to co-develop an interactive university education and certification training program to increase technical talent for the Chinese market focusing on Intel architecture and tools. Intel and Neusoft will also collaborate on joint curriculum development and training for a variety of sectors including: manufacturing, medical equipment home appliance and control along with other embedded applications.
Chairman and CEO of Neusoft Group, Dr. Liu Jiren said: “The cooperation with Intel this time further strengthens the relationship of two parties, which will show the confidence of both sides for continued cooperation. Neusoft has gained many technologies and experience in software solutions and digital health through innovation in the past years and obtains a leader position in the market. The cooperation with Intel will also help Neusoft to enhance the self innovation capability of Neusoft products and solutions. It will enable Neusoft to provide better products and solutions in line with international norms for customers and drive the development of the Chinese IT software industry.”