BEIJING, Sept. 10, 2014 /PRNewswire/ -- Vimicro International Corporation (NASDAQ: VIMC) ("Vimicro" or the "Company"), a leading video surveillance technology and solution provider, today announced that it has reached a Letter of Intent to form a strategic alliance with Inspur Group (Inspur) to cooperate and coordinate efforts in China's video surveillance market in the areas of solution and application development, maintenance and services, sales and marketing. The jointly developed total solutions consist of Vimicro's video surveillance technology and solutions and Inspur's servers and storage and its expertise in cloud computing.
"We are pleased to have formed a strategic alliance with Inspur, which will enable our video surveillance total solutions to become domestic from both the hardware and software perspective and further expand our footprint in China's video surveillance market. As China's leading provider of proprietary server and storage solutions, Inspur will bring to the table its industry-renowned technology in data center and cloud computing and its existing client base," commented Dr. John Deng, Vimicro's Chairman and CEO. "As the only proven SVAC-compliant video surveillance technology and solution provider, Vimicro will continue to capitalize on the mega-trend of China's adoption of domestic technology and standards to establish itself as a leading player in China's robust video surveillance market."
About Inspur Group
Inspur Group (000977.SZ, 600756.SH, 0596.HK) is a leading cloud computing overall solution supplier and cloud service provider in China. Inspur's leading cloud computing infrastructure platform is based on its proprietary server, mass storage, cloud operating system and information security technology. Inspur holds the largest market share in China's server market, with approximately 4,000 employees.
About Vimicro International Corporation
Vimicro International Corporation (NASDAQ: VIMC) is a leading video surveillance technology and solution provider that designs, develops and markets a full range of video surveillance products and solutions to governments, private enterprises, and consumers in China. Vimicro co-developed SVAC (Surveillance Video and Audio Coding), the national video surveillance technological standard, which demonstrates its unique strengths in proprietary multimedia IC technology, making it a leader in China's fast-growing security and surveillance market. Vimicro is headquartered in Beijing, China and has subsidiaries and offices throughout China and in Silicon Valley. Vimicro's ADSs each represent four ordinary shares and are traded on the NASDAQ Global Market exchange under the ticker symbol "VIMC."
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as Vimicro's expectations and forecasts, contain forward-looking statements. Vimicro may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vimicro's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to develop and sell new mobile multimedia products; the expected growth of the mobile multimedia market; the Company's ability to increase sales of notebook camera multimedia processors; the Company's ability to retain existing customers and acquire new customers and respond to competitive market conditions; the Company's ability to respond in a timely manner to the evolving multimedia market and changing consumer preferences and industry standards and to stay abreast of technological changes; the Company's ability to secure sufficient foundry capacity in a timely manner; the company's ability to effectively protect its intellectual property and the risk that it may infringe on the intellectual property of others; and cyclicality of the semiconductor industry. Further information regarding these and other risks is included in Vimicro's annual report on Form 20-F filed with the Securities and Exchange Commission. Vimicro does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date hereof, and Vimicro undertakes no duty to update such information, except as required under applicable law.
Vimicro International Corporation
Ms. Daisy Wang, IR Manager
Phone: +8610-5884-8898 Ext: 3036
E-mail: [email protected]
SOURCE Vimicro International Corporation