3i Infotech to form JV with Yucheng Tech

3i Infotech has signed a memorandum of understanding (MoU) with Yucheng Technologies, a leading provider of IT solutions and services to Chinese banks and financial services companies.

According to a release issued by 3i Infotech to the BSE today, the company is planning to set up a 51:49 joint venture in China.

'Headquartered in Beijing, China, Yucheng Technologies is a Nasdaq-listed company with more than 1,700 employees and subsidiaries and representative offices in eleven cities,' the release added.

V Srinivasan, managing director and CEO, 3i Infotech, said: "3i Infotech has a long-standing tradition of entering markets with high growth potential. The Asian markets, in particular, are of keen interest to us given the huge growth potential they offer."