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Playtech and Scientific Games join to develop online gaming products

Saturday, January 30th, 2010
Scientific Games Corp. (http://finance.yahoo.com/q?s=SGMS), manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited (http://bvi-companies.blogspot.com/2007/02/playtech-limited.html), a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.
Scientific Games and Playtech (http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=VGG7131X1078GBGBXAMSM) will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.

Scientific Games Corp., manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited, a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.

Scientific Games and Playtech will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.

Posted in BVI Company Joint Ventures, BVI IBC Business News, Investors' News | No Comments »

Yucheng Technologies establishes joint venture with Japanese IT service provider

Tuesday, January 5th, 2010

Yucheng Technologies Limited, a BVI-incorporated company providing IT solutions to the Chinese banking industry, announced that it has established a joint venture with NTT DATA Corporation, which is one of the leading providers of high quality IT services and solutions in Japan, rapidly expanding its business overseas.

The joint venture will provide possibility for the BVI company to rapidly move Yucheng’s E-Banking ASP into a leading positions in hosted e-banking for China.  It will expand the scope of the E-Banking ASP and allow to grow more rapidly than Yucheng’s resources and expertise permitted without the joining with NTT DATA Group. The E-Banking ASP target market includes hundreds of small to medium-sized banks in China.

NTT DATA will contribute to the joint venture with its experiences from its ANSER Unit Operation Center and Core Operating System Data Center, as well as experience operating outsourced platforms. Yucheng will contribute its E-Banking ASP technology, existing client base and local market expertise.

The joint venture will be officially launched on January 19, 2010. NTT DATA will hold a controlling interest of 51% in it, and Yucheng will be the holder of 49%. BVI company’s COO Shuo Zeng will act as interim CEO of the joint venture, until appropriate appointments are made.

Posted in Agreements and Contracts concluded, BVI Company Contracts, BVI Company Joint Ventures, BVI IBC Business News, NASDAQ listed BVI Companies | No Comments »

China Cablecom signed broadband development agreements with Hubei Unicom

Saturday, November 14th, 2009

On November 11, 2009, China Cablecom Holdings Ltd., the BVI-registered company operating cable networks and providing cable television services in the People’s Republic of China (PRC), announced a series of broadband development agreements between 7 of its joint venture subsidiaries and Hubei Unicom. The agreements with local subsidiary of China Unicom provide for BVI company’s broadband development network in the Hubei province.

China Cablecom is originally operating in highly populated Shandong province of PRC, but in 2009 the company acquired 55% interest in a cable network in Hubei province. The concluded agreements follow the strategic alliance framework agreement between Hubei Unicom and Hubei General Radio & Television Stations, the major shareholder of the Hubei SOE, which was signed in early October. Pursuant to the agreement, both companies will participate in developing broadband capabilities. The agreement provides for unlimited access to broadband bandwidth, the enhancement of network reliability, strong customer service platform and scalability of connection services within the Hubei regions.

Posted in Agreements and Contracts concluded, BVI Company Contracts, BVI Company Joint Ventures, NASDAQ listed BVI Companies | No Comments »

BVI-registered Techfaith forms joint venture with Chinese company Dmagicmobile

Tuesday, October 13th, 2009

TechFaith Wireless Technology Group Limited, a company registered in the British Virgin Islands and operating in China, and Shanghai-based D Magic Mobile Incorporation announced the formation of a joint venture company in China.

The new joint venture, Glomate Mobile (Beijing) Co., Ltd., will license well-known international brands through D Magicmobile for high-end brand-name mobile phones targeting fashion-conscious audience. Initial product launches are planned to be made in the fourth quarter of 2009.

The BVI-registered Techfaith is focused on the design and sales of mobile phone products and software. DMagic  Mobile is a cooperative licensee with a number of well-known international brands in the mobile telecommunications sector. It is a wholly foreign-owned enterprise, the cooperative partner of a number of multinational corporations including Mattel, Inc. and several entertainment companies.

Mr.Defu Dong, Chairman and CEO of TechFaith, commented on the agreement saying this is an important development for TechFaith, which is expected to give the company a vehicle to better differentiate its mobile phone offerings in the marketplace.

Posted in BVI Company Joint Ventures, BVI IBC Business News, NASDAQ listed BVI Companies | No Comments »

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