Shanghai Telecom Rents Baosight IDC Resources

Southern Metropolitan News, 10/22/13

Chinese software engineering and development firm Baosight Software (600845.SH) has announced the signing of an agreement with China Telecom's (NYSE: CHA; 0728.HK) Shanghai subsidiary by which Shanghai Telecom will rent rack space in Baosight's new "Baozhiyun" ("Bao Cloud") internet data center (IDC). The space will be used to by Shanghai Telecom to provide data center services to Chinese e-commerce conglomerate Alibaba Group and other clients. The agreement, worth RMB 2.5-2.6 bln, will see Shanghai Telecom pay annual fees of RMB 250 - 260 mln to Baosight over a 10-year period.

Construction on Baosight's Baozhiyun IDC project is currently under way, with the handover of at least 3,752 standard 19-inch server racks to Shanghai Telecom for operation to take place on January 31, 2014.

Editor's Note: For more background on this topic, please see "Baosight to Raise RMB 650 Mln for IDC, Informatization Projects" MD 7/30/13 issue.

Keywords: Shanghai Telecom China Telecom telecom Internet data center 0728.HK 600845.SH Baosight CHA

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