Last CNY8.65 CNY
Change Today +0.12 / 1.41%
Volume 12.3M
600797 On Other Exchanges
As of 9:14 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

insigma technology co ltd-a (600797) Snapshot

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insigma technology co ltd-a (600797) Details

Insigma Technology Co., Ltd provides various IT and outsourcing services in China and internationally. It offers IT services, such as systems integration, infrastructure, storage and data, operation and maintenance support, IT security, network and terminal products distribution, and cloud computing services; and outsourcing services comprising application development, legacy system reengineering, software testing, and BPO services. The company also provides consulting, business analysis and optimization, and strategy and transformation services; and software training for university students and enterprises, as well as professional certificate training. It serves financial services, transportation, smart building, healthcare, telecommunications, and education industries; enterprises; and public sector and power plants/grids. The company is based in Hangzhou, China.

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insigma technology co ltd-a (600797) Key Developments

US Reportedly Seeks Information From Finmeccanica On Ansaldo

The US Department of State has requested Finmeccanica SpA (BIT:FNC) to provide information on progress on stake sale in Ansaldo STS SpA (BIT:STS), Italian daily La Repubblica reported quoting political sources. Finmeccanica is selling its 44% stake in Ansaldo and AnsaldoBreda S.p.A. and will hold a Board meeting on January 27, 2015. Hitachi Ltd. (TSE:6501) and Insigma Technology Co., Ltd. (SHSE:600797) are the bidders in the race.

Hitachi Reportedly Looks For Alternative To Finmeccanica's Asset Purchase

Hitachi Ltd. (TSE:6501) is looking for alternative to Finmeccanica SpA (BIT:FNC) asset acquisition. On December 6, 2014, Corriere della Sera reported that the company is examining possible alternative acquisitions of rail assets in Europe in case its plans to buy Finmeccanica's AnsaldoBreda S.p.A. and Ansaldo STS SpA (BIT:STS). On November 17, 2014, Finmeccanica received a non-binding offer from Hitachi for AnsaldoBreda and a stake in Ansaldo STS, which are being sold by Finmeccanica. According to the report, Hitachi did not like Finmeccanica's decision to allow a Chinese alliance back into the bidding game. A Chinese consortium led by China CNR Corporation Limited (SHSE:601299) was the other bidder shortlisted in the race, but by the November 17, 2014 deadline only Hitachi was the one to have submitted an offer. CNR Corporation later pulled out and Insigma Technology Co., Ltd. (SHSE:600797) confirmed that its interest and found another bidding partner, Chengdu Xinzhu Road&Bridge Machinery Co., Ltd (SZSE:002480), Corriere della Sera reported. Hitachi is now looking for an alternative rail asset acquisition in Europe, with Vossloh AG (DB:VOS) as well as Newag Spólka Akcyjna (WSE:NWG) and Construcciones y Auxiliar de Ferrocarriles, S.A. (CATS:CAF) reportedly being eyed by the Hitachi. The report citing sources as saying added that Finmeccanica's Chief Executive Mauro Moretti and his closest aides are waiting for an alternative offer for AnsaldoBreda and Ansaldo in the coming days. La Repubblica reported that some see the return of the Chinese as a move by Finmeccanica aimed at raising Hitachi's offer. It also mentioned that Hitachi is said to be ready to take up the company's debts and the future restructuring. Finmeccanica is expected to decide on whom to sell AnsaldoBreda and Ansaldo STS to by the end of 2014.

Finmeccanica To Continue Asset Sales

Finmeccanica SpA (BIT:FNC) to continue talks over sale of its rail assets. The board of Finmeccanica asked Mauro Moretti, Chief Executive Officer of Finmeccanica to continue talks over the sale of its rail assets, the group said. Insigma Technology Co., Ltd. (SHSE:600797) is looking to team up with another Chinese company to buy the rail assets.


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