IBM (IBM) has announced that the company acquired an approximate 20% stake in the Qingdao-based Hisense TransTech Company Ltd., a leading Chinese smart traffic solution provider, marking the entry of IBM into China's smart traffic sector.

Jointly established by Hisense Group Corporation, Qingdao Hisense Electric Co., Ltd. and Qingdao University in 1998, Hisense TransTech specializes in smart traffic transportation management services, telecommunications infrastructure services, business process outsourcing services and related software applications. Occupying over a 20% market share in China's smart traffic market and 70% market share in the emerging public transportation and logistics management field, Hisense TransTech has become one of the four core businesses of Hisense Group Corporation with total revenue of more than CNY4 billion in 2007.

As one of the world's largest IT service providers, IBM has professional smart traffic management ability. In July 2007, the company launched five new technologies in the smart traffic sector and currently it is assisting such cities as London, Stockholm, Singapore and Brisbane to meet traffic management and congestion challenges.

With the help of Hisense TransTech, IBM is expected to become one of the core suppliers in China's smart traffic market.

The financial details of the transaction are currently not available.

Related Links:

• http://www.miit.gov.cn

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