ChinaSoft Invests in Leading SaaS Provider; Signs MOU to Expand Cloud Services into China
BEIJING and HONG KONG, March 10, 2014 /PRNewswire/ -- Three months after the acquisition of Catapult Systems, ChinaSoft International Limited ("ChinaSoft" or "the Company") (SEHK: 354) announced today that it has made a minority investment in Deem Inc., a leading SaaS provider in the Commerce as a Service (CaaS) space in the United States. The parties also signed an exclusive Memorandum of Understanding (MoU) to collaborate and build Deem's local China-based CaaS platform. This effort will further enhance ChinaSoft's social, mobile, analytical, and specially cloud (SMAC) capabilities.
Software-as-a-Service has seen tremendous growth in recent years, in both domestic and foreign markets. We have seen this phenomena in both traditional and new generation software companies, all trying to implement the SaaS model in hope to reach more enterprise customers. As a leading US based SaaS provider, Deem has already seen notable success delivering to all types of enterprises. The Deem platform is completely cloud-based, and it is considered to be one of the earliest SaaS providers along with SalesForce.com and NetSuite. Last year alone, more than $6 billion worth of transactions flowed through Deem's SaaS platform.
Deem enables companies to substantially lower operating costs through the industry's only integrated Cloud Suite of Travel, Expense Management and E-procurement applications that enables companies of all sizes to purchase virtually any product or service in the context of corporate policy, the role of the employee and negotiated discounts, resulting in savings on every transaction.
Deem also enables businesses of all sizes to intelligently sell virtually any product or service across its network. Leveraging big data and its proprietary relevance engine, Deem helps them to acquire the right customers at the right time and to more deeply engage their existing customers through a variety of promotions including pre-paid deals, real-time card-linked promotional offers, unique and time-based exclusives, standing discounts for commercial goods and services and pre-negotiated corporate discounts.
The partnership between Chinasoft and Deem will not only increase ChinaSoft's SMAC market share, but also bring Deem's exceptional SaaS services and a proven successful business model (seen in America and Europe) into China. Furthermore, this partnership will serve to facilitate Chinese enterprises cloud transformation and provide new breakthroughs in the domestic SMAC market. For large domestic enterprises, traveling, reimbursements, procurements, and etc. are all steps of management processes that will be more efficient and cost effective with the help of Deem's SaaS service. For ChinaSoft, this investment will help maintain its traditional IT consulting business, while shifting its focus to innovative and emerging technologies, specifically the cloud aspect of SMAC.
"We are proud to be teaming up with Deem to quicken the development the CaaS platform in China. By combining ChinaSoft's local market and customer knowhow with Deem's successful international market product design and operational experience, we expect to create a set of trusted and valuable products and services catered to the Chinese market." Said Dr. Chen Yuhong, Chairman and CEO of ChinaSoft.
ChinaSoft strongly believes that all over the world the IT services business model is changing due to the evolution of information technologies like cloud computing, social networking, mobile communications and big data analytics. As part of its growth strategy set in 2011, ChinaSoft embraced the Professional, Outsourcing and Emerging (POE) structure. The Company will pursue growth in its traditional IT professional consulting & solutions business (P) and outsourcing business (O) while pushing into innovative and emerging technologies (E) such as cloud computing and mobile communications. The Company believes that this transformation is in alignment with the strategies of its customers such as Microsoft, Alibaba, China Mobile and Huawei.
About ChinaSoft International Limited (SEHK:354)
Founded in 2000, ChinaSoft International Limited is a listed company on the Hong Kong Stock Exchange with its code of 354.HK. It is a large China based comprehensive software and information services provider, ranging from end-to-end services of consulting, solution, outsourcing and talent training. It serves clients in manufacturing, finance, telecommunication, high-tech, transportation, energy and also the government. The Company provides global services to over 100 multinational companies with close to 19,000 employees located worldwide based in 25 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com.
About Deem Inc.
Deem, Inc. delivers Commerce-as-a-Service to businesses enabling them to save, sell and syndicate resulting in lower costs, increased revenue and enhanced customer loyalty. Over the past year, more than $6.5 billion of relevant commerce transactions occurred across Deem. Deem is headquartered in San Francisco, CA.
SOURCE ChinaSoft International Ltd.