AppliedTheory Contracts with Shanghai Information Investment Co. to Establish First-Ever CIO Internet Training Program
Agreement Strengthens Development of Internet Technologies in China
NEW YORK, July 21 /PRNewswire/ -- AppliedTheory Corporation (Nasdaq: ATHY - news) and Shanghai Information Investment Company (SII) today announced the formation of a pioneering CIO Internet training program. The program's objective is to train and certify both current and future Chief Information Officers (CIOs) of Chinese enterprises for their role as top level decision makers. Furthermore, the program will facilitate SII's key role in developing Shanghai's burgeoning IT industry and enhance AppliedTheory's position in China to develop future Internet business opportunities.
''Shanghai is China's leading city with regard to the deployment of Internet technologies. By training tomorrow's CIOs on the power of the Internet, we will be establishing a large potential client base for our wide range of Internet solutions,'' said Larry Helft, President and COO of AppliedTheory. ''We also see China as a potential source of programming talent to fuel our ever-expanding U.S. demand.''
According to an IDC report released in April 1999, China's IT market is expanding faster than any other IT market in Asia. Furthermore, by the year 2000, China is expected to have the largest IT market in the entire Asia- Pacific region -- excluding Japan -- valued at US$15.0 billion.
''As a long time leader in developing complete Internet solutions, our goal is to help bring CIOs up to speed on how the Internet can work for business in China,'' said Dr. Richard Mandelbaum, CEO of AppliedTheory. ''Ultimately, this program will help generate business ventures between a wide range of technology companies in both the United States and China.''
The pilot program will begin in October 1999, with both China and U.S.- based classroom training components. The first stage includes traditional classroom instruction according to a curriculum developed by AppliedTheory. The second stage involves organizing projects -- such as building a company Intranet, e-commerce site, or VPN -- specific to the needs of business in China. During the third stage, participants will work directly with U.S. companies to gain first-hand experience relevant to their individual projects.
''Thousands of Chinese companies require a CIO's experience in applying Internet-based technologies in their business,'' said Mr. Fan XiPing, General Manager of SII. ''SII chose AppliedTheory to train these CIOs because of their unique combination of academic and entrepreneurial experience.''
The joint CIO training program was coordinated through AppliedTheory's Representative Office in Shanghai and represents a logical extension of its pioneering work in building NYSERNet, a forerunner of today's Internet.
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