(COMTEX) B: CBQ Establishes Software Development Consortium in China to
B: CBQ Establishes Software Development Consortium in China to Deepen Strategic
Outsourcing Services
BEIJING, Aug 14, 2001 (BUSINESS WIRE) -- CBQ, Inc. (OTCBB:CBQI) announced today
that it has established a software development consortium in China to provide a
wider range of strategic software outsourcing services for clients in the United
States and China. This initiative will increase CBQ's ability to fill large
outsourcing software-development orders. In addition, this consortium will allow
CBQ to complete large commercial outsourcing IT projects by assembling expert
teams to meet the requirements of each project, manage projects from start-up to
marketing, and link professionals with expertise, capital and other resources.
Participants in the consortium, which will serve as a resource for the new CBQ
Soft division, include companies in Shanghai, Shenzhen, Xi'an and
Beijing--Topsoft, Inc. in Shanghai, one of the three largest software companies
in China with 20 branch offices throughout China; Sinosun Technology in
Shenzhen; Xi'an Digital Communication Co., Ltd. in Xi'an; and Datang Software
Technologies, Co., Ltd. in Beijing. Datang has over 400 software programmers, is
a leader in telecommunications application software in China, and has obtained
the ISO 9001-quality system certification. Its strategic partners include IBM,
HP, Sun, Oracle, Cisco, Sybase, and Informix.
In a separate agreement, Topsoft, Inc. agreed to sell software products from the
United States made available by CBQ using its distribution channels (and, if
needed, to convert such U.S. products into Chinese before marketing them.)
The CBQ consortium will supplement the resources of EasySoft International, a
CBQ subsidiary in Beijing that has performed outsourcing services for Daimler
Chrysler, state governments, and other clients.
"We are extremely excited about having access to the large and talented pool of
Chinese IT professionals in several large cities in China. The software
development market in China is exploding, and will serve not only as a resource
for U.S. clients but as a rich target of opportunity for CBQ," said Bart S.
Fisher, Chairman and CEO of CBQ. "The CBQ consortium, which we will be
continually expanding, will allow the company to duplicate successful
outsourcing business models such as Infosys that have used India as a base for
software outsourcing."
About CBQ, Inc.
CBQ, Inc. is a full service, end-to-end e-Business solution provider, which
provides software-outsourcing through its subsidiary CBQ EasySoft International
Inc., Beijing, China and Miami, FL; provides technology and network Integration
engineering services through its subsidiary CBQ Networkland, Rosslyn, Virginia;
provides software programming and development though its subsidiary CBQ Technet
Computer Services, Inc., India and Tyson's Corner, Virginia; and provides
network integration though its subsidiary, CBQ NETSERV, Hunt Valley, MD. For
more information on CBQ, Inc., visit cbq.com , also a Shareholder
Summary is located at marketex.net .
Safe Harbor: This news release includes forward-looking statements related to
CBQ, Inc. that involve risks and uncertainties, including, but not limited to,
quarterly fluctuations in results, the management of growth, market acceptance
of certain products and other risks. These forward-looking statements are made
in reliance on the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995. For further information about these factors that could
affect CBQ's future results, see the company's filings with the Securities and
Exchange Commission (the "Commission"). Prospective investors are cautioned that
forward-looking statements are not guarantees of future performance. Actual
results may differ materially from management expectations.
CONTACT: CBQ Investor Relations, Coral Springs, Fla.
Gary Swancey, 954/757-0582
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Copyright (C) 2001 Business Wire. All rights reserved.
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KEYWORD: DISTRICT OF COLUMBIA CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
E-COMMERCE
INTERNET
NETWORKING
SOFTWARE
SOURCE:
CBQ,
Inc.
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