Neusoft Corporation announced recently that it signed an agreement with the Finnish software company Sesca Group Oy to acquire 100 percent of the shares of Sesca's three subsidiaries - Sesca Mobile Software Oy, Almitas Oy and Romania-based Sesca Technologies SRL.
The three companies will be integrated into Neusoft's global mobile solution business unit.
The acquisition will help Neusoft upgrade its ability to develop, design and test software for mobile phones and other mobile communication terminals.
The acquisition is expected to be approved by Chinese regulators soon.
Neusoft is one of the leading IT solutions and services companies in China and the nation's largest offshore software and service outsourcing provider.
The acquisition will help Neusoft further expand its market in Europe and strengthen the company's cooperation with its partners.
"Neusoft is very pleased with this acquisition, which will help us significantly strengthen our expertise in mobile phone software development and testing," said Liu Jiren, Chairman & CEO of Neusoft.
"Sesca has world-class know-how. By uniting the operations of Sesca and Neusoft, we expect to become one of the leading global companies in this field."
Neusoft is accelerating its expansion abroad especially, in Europe and the Americas, and as part of the effort it invited former SAP North Asia CEO Klaus Zimmer to take the positions of vice-president and European president of the company.
Since the onset of the global financial crisis in September last year, many multinational companies looked for new locales for research and development (R&D) due to rising costs.