Microsoft forms China software venture

Software giant Microsoft has formed a joint venture with Shanghai Alliance Investment to develop and market software services for the China market. With a $4 million capitalization, the newly formed Shanghai Wicresoft is slated to begin operations in July, said Jun Tang, Microsoft China president. Microsoft and Shanghai Alliance will have equal ownership in the new company. Wicresoft, which will be headed by Tang, will concentrate on developing proprietary applications for both Chinese and foreign customers, Microsoft said in a statement. Multinational companies based in China will also be able to outsource software development to the new company. Additionally, Microsoft has awarded a global outsourcing contract to Wicresoft to provide technical support for Microsoft Windows and Office. The value of the deal was undisclosed. Fran Foo reported from Singapore. To read the full story, visit CNETAsia.