Yucheng Technologies has announced the formation of Elegon Infotech Limited, a joint venture with 3i Infotech Limited from India. Located in Chengdu, Sichuan, the new company becomes the first significant Sino-Indian joint venture in the Chinese financial technology sector.

Elegon will focus on localizing financial technology software from 3i Infotech, including internationally renowned insurance, banking and securities software platforms, to meet the needs of China’s diversified financial services sector. Due to the high degree of complementarity with its existing solutions, Yucheng will be able to cross sell Elegon’s products to its existing client base and expand into new markets, such as insurance and securities sectors, where 3i Infotech’s software products are recognized as industry leaders.

Elegon, Ltd. is owned 51% and 49% by 3i Infotech and Yucheng, respectively. (PRNewswire)

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