Beijing DHC Chengxin Computer Technology, an affiliate of China-based software and IT services provider DHC Software, has raised RMB1.27bn ($198m) from internet company Tencent, China Money Network reported today.
Tencent will acquire a stake in DHC Chengxin sized at approximately 24.7% as part of the deal.
Founded in 2001, DHC Software offers a wide range of software products and IT services for use in industries such as healthcare, financial, telecommunications, energy and government. It is listed on the Shenzhen Stock Exchange.
Tencent’s investment will be used to advance the business development of DHC Software, and follows a cooperation agreement signed by cloud services unit Tencent Cloud and DHC last week that will focus on cloud technologies in healthcare, smart cities, logistics and finance.
Under that agreement, the two will also launch a laboratory to promote Tencent Cloud’s capabilities in managing healthcare insurance and voice input for electronic health records.
Tencent and DHC will also integrate the early-stage cancer detection functionality of artificial intelligence-based diagnostics tool Tencent Miying and Tencent’s facial recognition technology in hospitals.
DHC will deploy Tencent’s smart city technologies, on top of co-developing a lab focused on how cloud technologies can advance the energy sector.