CDI, Attended by Israel’s Prime Minister, Sign Term Sheet with CIP
May 8, 2013 – Beijing, China
(L-to-R) Itzhak Levit, CDI CEO; Israel Ambassador to China Matan Vilnai; Israeli Prime Minister Binyamin Netanyahu, Zhou Weibin, CIP President
CDI’s CEO and Chairman, Itzhak Levit, signed a term sheet forming a joint venture with one of China’s top ten publishing giants, CIP. Chinese government party member and President of CIP signed on behalf of CIP.
The ceremony was hosted in the glamorous Kempinski hotel in Beijing at a ceremony of several Israeli companies signing contracts with Chinese corporations from many industries from agriculture to high tech.
E-publishing in China is rapidly expanding. Already in 2011, whereas all the total publishing revenue in the USA was at US $40b, in China is stood at US $272b. However, unlike the US market which was then 60% digital, China, at the time was only at 10%. As such the Chinese government has created a strong push to help the country go digital as quickly and efficiently as possible.
“This is a golden opportunity for CDI,” Mr. Levit said. “CDI brings the easy-to-use yet sophisticated technology and many years of experience as one of the pioneers in the e-publishing world to China right at the right time.”
“We researched many American and European companies offering, what appeared on the surface, as a similar platform as CDI’s NetIS publishing engine,” said Mr. Weibin from CIP. “In China we trust and favor Israeli technology. We also found that, when we did our homework, there was no other option that met all of our needs. We need something proven, robust and easy to work with. Something that can get us out of the starter’s box in a flash and this is what we found with NetIS.”
CDI & CIP plan to begin launching fully operational websites in China for the Chinese market bringing digital content to the fully array of end-user devices currently being used. The plan is to then grow from China to a global presence in stage two.
About CDI Systems and NetIS™ e-Publishing Platform
CDI Systems is a private high-tech company founded in 1992, headquartered in Jerusalem, Israel. CDI focuses on the development of a unique and innovative online publishing platform - NetIS™, the company has successfully deployed scores of solutions for the Internet, Intranet, Mobile Internet, DVD/CD-ROMs, tablets and eReader devices.
Deployments range from global giants such as Dun & Bradstreet from Japan to the United States, government contracts, the European Directorate for the Quality of Medicines & Healthcare (EDQM), to publishing houses. Please visit www.cdisys.com to learn more.
CIP(Chemical Industry Press) is one of the oldest central government level publishers established in 1953, engaging in the publication of STM, educational, trade books, as well as electronic publications and scientific periodicals. After nearly 60 years of growth, CIP excels in the publication of general science, and is one of the better known and trusted brands in China, with a relatively large market share; In addition, CIP has been named as one of the “top ten publishers in China”. CIP has been awarded by the Publication Administration of General Administration of News and Publication China Copyright Association and China Publishing Association for its trustworthiness and quality of service, and has been named one of the “best partners” as well as a “five star supplier” by its clients.
CIP has 12 publishing subsidiaries specializing in areas such as chemical industry and material, environment and architecture, biology and medicine, life and health, mechanics and electronics, business management and humanities, higher education, professional education, scientific periodicals, and digital publishing.
For more information
Rachel Kanat, Business Development