Asia Pacific Watch

June 9, 2003
Concerto, New World Xianglong sign JV

NEW DELHI -- Concerto Software, Inc. has recently signed a joint venture agreement with New World Xianglong Communication Ltd., a wholly owned subsidiary of New World Infrastructure, a subsidiary and the flagship telecom arm of New World Group in China. Concerto Software New World will address the growing contact center market opportunity in China.

The JV expects to open its first office in Shanghai, and plans to open additional offices in Beijing and Guangzhou later this year. As part of Concerto Software's Asia Pacific operations, Concerto Software New World is likely to be operational in Q2.

According to Frost & Sullivan, the interaction CRM (customer relationship management) market in China is valued at approximately $103mn in 2003, and is likely to grow at a CAGR of 20.8 percent to $264mn in 2008. Its report shows a preference for large call centers in China - especially in the telecom, banking and outsourcing industries.

James Foy, president and CEO, Concerto Software, said: "Building on the momentum we have created in the Asia Pacific region, we anticipate that this strategic initiative - coupled with the growing demand for next-gen contact center technology in China - will generate a host of new opportunities for Concerto Software in this market."

Douglas Chan, managing director, New World Infrastructure, added: "Combining New World's strength, history and expertise in China with Concerto Software's leading-edge contact center technology, we have created a synergy that is unmatched in the market today. We anticipate that Concerto Software New World will be well-received and embraced by the diverse, evolving Chinese contact center market."

Contact:
New World Infrastructure
Web: www.nwi.com.hk