October 15, 2008
IBM Enhances Traffic Management Capabilities Via Investment in Hisense TransTech Company Ltd.
IBM (NYSE: IBM) today announced an alliance with Hisense TransTech Company Ltd. (HTT), a leading provider of urban traffic, public transportation and logistics management solutions in China.
IBM has taken an approximate 20 percent stake in HTT, a subsidiary of the Hisense Group Corporation that specializes in Intelligent Traffic Management Services (ITS), Telecommunications Infrastructure Services (TIS), Business Process Outsourcing Services (BPO), and related software applications. This investment will facilitate cooperation between HTT and IBM, enabling HTT to offer its clients solutions built on advanced technologies and products and world-class Application Management Services (AMS) while strengthening IBM's traffic management capabilities.
"We are excited about collaborating with HTT, a leader in the China market, in developing next generation products and enhancing value to clients," said Fan Yu, Director of Public Sector, IBM Greater China Group. "That will be done primarily by deploying our practical experience and proven technologies in traffic management."
Charles Wu, Vice President, IBM Greater China Group, noted that the investment in HTT is part of IBM's efforts to help leading Chinese companies expand both their Chinese and global presence. "Through investments and cooperation like this one, we believe we can contribute to sustainable economic development in China," Mr. Wu said.
Regarding cooperation with IBM, Charlie Wang, Chairman and CEO, HTT, noted that by leveraging IBM's unparalleled expertise, advanced solutions and proven technologies in the industry, HTT will be able to meet the unique demands of its clients and enhance the values it offers its customers.
"HTT believes that IBM's financial investment and global resources will boost China's ITS industry with improved operational and management capability and greater competitiveness, enabling it to meet the challenges of the globalizing market," Mr. Wang said.
Press Contacts Lia P. Davis IBM Media Relations, Government Office 202.515.5499 E-mail [email protected] Eric Xu IBM Media Relations, China Office 86-10-63612327 E-mail [email protected]