Silverlake Axis has secured two new contracts in China for a total value of $70 million to provide cards (credit, debit and loyalty cards) and logistics IT solutions to HNA Group Co.

In the cards agreement, Silverlake Axis will grant the HNA Group a perpetual licence to use its card-processing software as well as implement and provide application support services for a period of five years for a total contract value of $20 million.

In the logistics agreement, Silverlake Axis will develop and implement the logistics solution using its suite of Application and Software Tools and will provide software support services to the HNA Group over a three-year period for a total contract value of $50 million.

HNA Group is a Fortune 500 Enterprise and a multi-industry enterprise group with businesses in air transportation, airport management, hotel, logistics, real estate, retail, tourism and other related industries. It is also developing financial services-related businesses. The HNA Group has total assets of RMB148 billion ($30.8 billion) and a total staff of over 60,000 at end of 2009.

The two contracts are expected to have a positive impact on the earnings of Silverlake Axis over the duration of the contracts.