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Article: Yucheng Concentrates on Growing Software & Solutions Business and Sells Elegon JV.
- Article from:
- China Weekly News
- Article date:
- July 28, 2009
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Yucheng Technologies Limited (NASDAQ:YTEC), a leading provider of IT solutions to China's banking industry, announced that it intends to concentrate on developing its Software & Solutions business and has sold its 49% holding in Elegon Infotech, Ltd.
The overall China's banking industry is expected to continue double-digit IT spending growth for the next several years, with the majority of IT spending growth coming from small to medium-sized banks (SMBs). To capture this market, solutions need to be tailored to SMBs' unique requirements in terms of scope and sophistication, while recognizing the future scalability requirements as SMBs enhance their competitive ...