Kaashyap Technologies Ltd (KTL) has signed up a Memorandum of Understanding (MoU) with Oceansoft Information System Co Ltd, China.

KTL signed MoU with an objective to penetrate the aggressive Chinese market in different fields including IT training and building resources in the areas of SAP, IT Security and Capital Markets.

According to the MoU, the training will start at three subsisting centres of Oceansoft by the coming month (May 2008). This will be accompanied by training on soft skills and building proficiencies for the BPO sector.

KTL along with Oceansoft will also set up a franchise network of more than 100 centres by March 2009-10.

Based in Jiangsu (Shanghai greater region) Oceansoft Information System is a fast growing IT company in the areas of IT training and outsourcing. It provides different services ranging from E-business solution, ERP Implementation, solution design, oracle solutions, banking solution, logistics solutions, call centre and back office operation and case studies.

The shares of Kaashyap Technologies Ltd, on Thurday, closed at Rs 2.05, down 4.2% on the Bombay Stock Exchange (BSE).