Austin, Texas (PRWEB) September 26, 2011
Neusoft Corporation, the largest IT solution & service provider in China, and Appconomy, Inc. announced today plans to form a strategic alliance. By integrating the powerful Appconomy Platform for AppCommerce with Neusoft’s cross platform app environment, Appconomy will be able to power a new generation of commerce and community apps in the US, China, and globally. In connection with the alliance, Neusoft will become a significant minority shareholder in Appconomy and will license its cross platform app environment to Appconomy. Both companies will seek to leverage combined customers and partners in the two largest markets for apps in the world.
“With a shared vision for the future potential of apps, we are thrilled to form this strategic global alliance with Neusoft,” said Steve Papermaster, Chairman and co-CEO of Appconomy. “Appconomy is now uniquely suited to reach hundreds of millions of consumers and power merchants and enterprises through the new generation of apps and app-based commerce.”
“Neusoft shares a common vision with Appconomy for a future of compelling value-creating apps powered by a common global platform,” said Dr. Jiren Liu, founder, Chairman & CEO of Neusoft. “The combination of Neusoft’s scale and capabilities in alliance with Appconomy creates a global player with leading capabilities in the global app marketplace.”
“With the rapidly growing buying power of China’s emerging middle class, China has become a primary target for companies seeking growth,” said Brian Magierski, President and co-CEO of Appconomy. “Global brands have recently declared China as their second home country, and Chinese companies are now eyeing global markets. With this paradigm shift, it has never been more important for businesses to execute simultaneously in the US and China markets.”
The parties have entered into a nonbinding Memorandum of Terms. The formation of the alliance remains subject to the completion and execution of definitive documentation and customary conditions to closing the transaction.
Neusoft, founded in 1991, has played a pivotal role in shaping the software and service industry in China. It presently has more than 20,000 employees worldwide and is publicly traded on the Shanghai exchange. In February 2011, Neusoft was named one of the Global Top 100 software vendors in the world, and also led the ranking of the China Top 100 Software Vendors by PricewaterhouseCoopers.
Appconomy is a private company and will now operate dually headquartered offices, with a US-based headquarters in Austin, Texas, and a second headquarters in Shanghai, China.