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Stock Market & Financial Investment News

News Breaks
August 4, 2014
07:09 EDTCNITChina Information enters into strategic partnership with CITIC Securities
China Information Technology announced that the Company entered into a strategic partnership with CITIC Securities. Pursuant to the partnership agreement, CITIC will provide a variety of corporate financial services including mergers and acquisitions, pension management, and brokerage services on a needed basis. During CNIT's strategic transition from traditional IT system integration to the cloud-based internet platform technology, CITIC will assist the Company in exploring various alternatives in China to enhance long-term shareholder value. In addition, CNIT and CITIC will collaborate to restructure CNIT's traditional IT system integration business, which generates lower margin and higher receivables than the emerging cloud-based internet platform services.
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