Microsoft, IFC Back Chinasoft

The duo will invest up to $35 million in Chinasoft International.
By Priya Ganapati
September 27, 2005

Microsoft and International Finance Corporation, the World Bank’s private-sector arm, said Tuesday they will invest up to $35 million in Chinasoft International, a publicly traded IT company specializing in outsourcing and e-governance services.

The Redmond-based software giant will invest up to $20 million and IFC is expected to pump in $15 million. The investment is intended to help Chinasoft develop its existing business and accelerate its expansion in the international market, the company said.

Microsoft and Chinasoft also inaugurated a jointly built Online Lab that will conduct software outsourcing R&D and testing. The lab will try to enhance Chinasoft’s capabilities to undertake software outsourcing projects and its R&D services capabilities.

Chinasoft is a publicly traded company on the Hong Kong Stock Exchange.

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