A new information technology (IT) services unit of Chinadotcom has formed a joint venture in India with Bangalore-based vMoksha Technologies with the aim of landing more international outsourcing deals.
Led by CDC Outsourcing, the India-based joint venture, which is yet to be named, aims to provide low-cost outsourcing services to software vendors and enterprises in the United States, Europe and the Asia-Pacific region.
Hong Kong-based, Nasdaq-listed Chinadotcom will hold a 51 per cent interest in the venture; vMoksha the remaining 49 per cent. Financial terms were not disclosed.
The joint venture will have sales and marketing offices in the US, Britain and Australia, while its offshore development work will be supported in both India and the mainland.
By partnering with offshore outsourcing specialist vMoksha, Chinadotcom hoped to bolster its outsourcing operations in Shanghai.
Daniel Widdicombe, chief financial officer at Chinadotcom, said CDC Outsourcing was set up to manage IT outsourcing initiatives within the group.
'The IT outsourcing business is still in its early stages in terms of the potential financial impact to the company,' he said.
