Orchid Asia Invests Us$10.5 Million into China's Leading Enterprise Data Storage Solution Provider, UIT11 November 2006
United Information Technology Limited ("UIT") and Orchid Asia Group Management, Limited ("Orchid Asia") jointly announced that Orchid Asia has made US$10.5M investment commitment to UIT for its business expansion globally.
Founded in 2001, UIT is a leading provider of information management and storage solutions in China. With a strong team combining with both international expertise and local know-how, the Company has developed proprietary iSCSI based storage area networks (SAN) featuring advanced software and fully-integrated architecture design. Its product portfolio also includes Fiber Channel SAN and NAS. These solutions have powered many customers to manage information access and storage in a secure, efficient, and reliable way. The Company works closely with leading corporations, such as HP, Intel and etc, and premier channel partners worldwide, on solutions which can meet the most challenging local and international needs. Its preeminent customer list includes CCTV, China Telecom, China Power Group and many other customers.
UIT is headquartered in Beijing, with offices in Shenzhen and Shanghai as well as Hong Kong. It also sells products through channel partners in other countries.
About Orchid Asia
With offices in Hong Kong, Shanghai, Guangzhou and San Francisco, Orchid Asia has been investing in China for over 10 years and is one of the first international private equity investors in China. The current fund, Orchid Asia III, has US$180M to invest in expansion stage companies in China. Orchid Asia is managed by a team of talented professionals with a balanced mix of operations, consulting, banking, and private equity experience from Goldman Sachs, Salomon Brothers, McKinsey & Co, Boston Consulting Group, General Electric, Chevron and Motorola. Orchid Asia's investment strategy is to focus on partnering with experienced operating executives who possess outstanding character, intelligence, and drive.
Contact Person at UIT:
Tony Chen, CEO
Tel: +86-10-6261-4488
Email: tony@uit.com.cn
Contact Person at Orchid Asia:
Steven Kwok, Managing Director
Tel: +852-2115-8810 / +86-21-5298-6222
Email: skwok@orchidasia.com
Source: prnewswire
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