ZHEJIANG, China (March 8, 2007) (SinoCast via COMTEX) – Insigma Technology Co., Ltd., a leading Chinese IT application and resolution provider, signed a memorandum of understanding (MOU) with the US-based software giant Microsoft Corp. on March 8, becoming Microsoft’s fifth Chinese partner following Inspur Group, Chinasoft International Ltd., Hunan Powerise Information Technology Co., Ltd. and Digital China.

According to the MOU, the two will launch a series of cooperation on talent training, solution development, product introduction and outsourcing. Microsoft will also provide all-round technical support to the Shanghai-listed company in the research and development of the .NET platform, said Mr. Timothy Chen, Microsoft’s chief executive official for Great China region.

“This collaboration alliance can not only largely enhance the quality of Insigma’s products but also help it develop into a world’s first-grade IT solution provider,” said Chen Chun, director of Insigma Technology.

HANGZHOU (March 9, 2007) As the RMB has been gradually appreciating, it has begun impacting China’s outsourcing field. According to the latest statistics from consultants of CCID, one of the most prestigious websites especially for the IT industry in China, the growth rate of Chinese software outsourcing firms has decreased from 55.4% in 2006 to 40.6% in 2007. 

According to another latest comprehensive statistics report from CCID, China’s software outsourcing services market is expected to rise by 35% in compound annual growth in the coming five years, outpacing the global market growth of 13%. By the year of 2012, the scope of China’s software outsourcing service market is expected to surpass US$ 9 billion. (Topoint.com.cn)

BEIJING (April 5, 2007) – After becoming a strategic cooperation partner of Microsoft, Insigma recently entered into equity cooperation with the State Street Group of the United States. Insigma published a notice announcing that the company had signed a series of agreements, including equity transfer and joint venture operation contract with the US company, under which Insigma will transfer 49 percent of shares it holds over the Insigma Hengtian Software Co. Ltd. to State Street. 

After the transfer, Insigma Hengtian will become a Sino-foreign joint venture, with Insigma holding 51 percent of its shares, and State Street, 49 percent. After friendly negotiation, the transfer price is set at 4.9 million yuan, the notice says. After the joint venture is launched, State Street will offer the joint venture company its global customer network and assist it in establish new customer relations, while Insigma will make full use of the labor resources and technology advantages of the company itself and Zhejiang University to offer technical support to the joint venture. 

Insigma is solely entitled to rights and interests of the joint venture within three years after the establishment. State Street of the United States is a listed company on the New York Stock Exchange. It mainly engages in financial capital services and financial capital management.

HANGZHOU (Feb. 24, 2008) – Insigma Technology Co. has been speeding up construction of the nearly complete Insigma Software Outsourcing Industry Park, an integrative area for outsourcing industries, and by this summer a group of corporations is expected to move into the park.  According to the Assistant to the President of Insigma Technology, Mr. Hui Li, Insigma Park is built as a core platform based in Hangzhou for international outsourcing business. Insigma Technology is also expected to be the biggest software outsourcing provider of China to Microsoft Corp. 

Insigma Software Outsourcing Industry Park is among the top 10 supported industrial zones in Hangzhou.  In the coming three years, the Hangzhou government intends to speed up construction of two state-level service outsourcing model zones, one as the High-tech Technology Industry Development Zone (Binjiang District), and the other as the Economic and Technological Development Zone. In addition, the government also plans to establish 10 province-level or city-level service outsourcing zones, qualifications of which include annual revenue surpassing US$ 100 million, an employee count of over 5,000, and at least five industrial zones owing sales revenue of over US$ 20 million within five years. It is the action and plan to establish a Hangzhou brand, building Hangzhou city as a state-level service outsourcing base. 

The developing route for service outsourcing indicates that Hangzhou is making efforts on persistent and significant adjustment of its high-tech industry, by speeding up expansion of Development Zone construction, from two model sites, the High-tech Technology Industry Development Zone (Binjiang District) and the Economic and Technological Development Zone, to a coverage of 13 counties.  Development and expansion of high-tech industry in Hangzhou is considered at its bloom. 

A project program named “Paradise Silicon Valley” in Golden Triangle is expected to be released soon.  Golden Triangle refers to the High-tech Industry Development Zone, the Economic and Technological Development Zone, Westlake District, and Yuhang District’s Cangqian town. Westlake District and Cangqian town, as the new added zones for the Golden Triangle development project, while further depending on resources from Zhejiang University and China Academy of Art, are expected to focus on industries covering information network, animation cartoon, culture creativity and knowledge-oriented service.