BEIJING, Oct. 29 /Xinhua-PRNewswire-FirstCall/ -- China TransInfo Technology Corp., (OTC Bulletin Board: CTFO) ("China TransInfo" or "the Company"), a leading Geographic Information System ("GIS") technology provider for the People's Republic of China ("PRC") government's Transportation, Land & Resource and Digital City segments, today announced it has entered into a solution partnership with Oracle Corporation ("Oracle"), the world's largest enterprise software company, for work within China's transportation sector.
As China TransInfo's solution partner, Oracle will provide China TransInfo with all Oracle products at discount price and technical support. In addition, both companies have agreed to periodically conduct transportation segment channel conferences to discuss how to better share market and client resources. China TransInfo believes this new solution partnership with Oracle will improve its brand recognition and profile in the industry. It also offers both companies opportunities to increase penetration in the GIS marketplace in China.
"Becoming a solution partner with Oracle will enable us to enhance both our product lines and level of service so as to better meet the needs of our customers," Mr. Shudong Xia, Chief Executive Officer of China TransInfo, said. "It will also strengthen our competitive position within the global GIS marketplace worldwide by providing us with cost advantages and enhancing our technological superiority even more," Mr. Xia said.
About Oracle
The world's largest enterprise software company, incorporated in 2005, Oracle offers solutions across virtually every tier of a business -- database, middleware, business intelligence, business applications, and collaboration. Oracle develops, manufactures, markets, distributes and services database and middleware software, as well as applications software that help organizations to manage their businesses. Oracle has two major divisions: software and services. These two divisions are further divided into five operating segments. The software group consists of two operating segments, new software licenses, and software license updates and product support. Its services division consists of three operating segments, consulting, on demand (formerly known as advanced product services) and education.
About China TransInfo
China TransInfo, through its subsidiary Beijing PKU ChinaFront High Technology Co., Ltd., offers a full range of GIS application solutions including GIS system planning, deployment, system construction, data testing, system audit and optimization, documentation and customer training through self-developed GIS platform software products for both 2D and 3D GIS system models. The Company has 13 copyright registered certificates granted by the China Software Testing Center and the National Copyright Administration of the PRC. China TransInfo serves the government sectors of the GIS market in China with an emphasis on the following three major Chinese central government initiatives: (i) Transportation; (ii) Digital City; and (iii) Land & Resources. China TransInfo also has a first mover advantage in the 3D GIS segment having developed the first and only three dimensional GIS platform software in China. The Company's affiliation with Peking University, which currently owns 15% of the company, provides access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. China TransInfo has been thoroughly involved in the beta stages of the GIS information systems in China, especially in the transportation segment. In 2005 and 2006, the Company was awarded three of four Ministry of Transportation of the PRC case models designed to test GIS application solutions. As a result, the Company is currently playing a key role in setting the standards for GIS solutions.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
For more information, please contact:
Company Contact:
Mr. Shudong Xia
Chief Executive Officer
China TransInfo Technology Corp.
Email: xsd@techfront.com.cn
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
