AsiaInfo and Frost & Sullivan Sign Memorandum of Understanding on Strategic Co-Operation.Business Editors/High-Tech Writers BEIJING, China & SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--July 21, 2003 AsiaInfo Holdings, Inc. (Nasdaq:ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. ), a leading provider of telecom network and software solutions in China, today announced that it has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) on future strategic co-operation with Frost & Sullivan, a consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in providing services in emerging high-tech and industrial markets, particularly within the Chinese telecom industry. Under the terms of the MoU, AsiaInfo and Frost & Sullivan will jointly offer China's telecom carriers specialized advice on business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets management and support systems that combines integrated IT solutions, leading software and advanced operation and management consultancy. The two companies will also work closely together to conduct additional in-depth research on the future development of China's telecom industry, thus facilitating provisioning of real end-to-end services to the customers and strengthening long-term partnerships with them. This is the second MoU signed between AsiaInfo and an important strategic partner, the first one having been signed with Ericsson (China) in June 2003. AsiaInfo is dedicated to partnering with other suppliers to further develop business relationships and enhance service provisioning to the company's clients. "We have a renewed commitment to developing stronger relationships with our customers and partners, as demonstrated by this important MOU," said Xingsheng Zhang, President and Chief Executive Officer of AsiaInfo. "With this new relationship, AsiaInfo and Frost & Sullivan can now offer clients greater depth and breadth of service. This further highlights our focus on moving up the telecom industry value chain to provide better integrated solutions and bring greater benefits to our customers. We look forward to a long and mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship under this strengthened partnership." About AsiaInfo Holdings, Inc. AsiaInfo Holdings, Inc. (Nasdaq:ASIA) is a leading provider of telecom network and software solutions in China. The company provides high-quality software and solutions to China's telecom carriers, meeting the demanding needs of a fast-growing industry. AsiaInfo's products and services cover network infrastructure services including design, implementation, operation and optimization, customer management and billing solutions; decision support systems; and service applications encompassing messaging, broadband, wireless and other advanced applications. Organized as a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , AsiaInfo has constructed national backbones and provincial access networks for all of China's major national telecom carriers since 1995, including China Telecom, China Mobile, China Unicom China Unicom, full name China United Telecommunications Corporation, 中国联通, HKSE: 0762 NYSE: CHU, is a telecommunication operator in the People's Republic of China. 52. and China Netcom. Since 2000, the company has successfully shifted its focus from Internet infrastructure construction to the provision of a full suite of telecom software solutions. For more information about AsiaInfo, please visit http:/www.asiainfo.com. This release contains projections and other forward-looking statements regarding future events and the future financial performance of AsiaInfo that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by AsiaInfo with the SEC, specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge and notes thereto included in AsiaInfo's most recent reports on Form 10-K and Form 10-Q Form 10-Q See 10-Q. , each as it may be amended from time to time. Any projections in this release are based on limited information currently available to AsiaInfo, which is subject to change. |
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