CDC Software to Acquire Not-For-Profit SaaS Provider
CDC Software, 10/22/09
Chinese enterprise software provider CDC Software (Nasdaq: CDCS) has announced today it has signed a binding term sheet to acquire a provider of software as a service (SaaS) solutions for the Not-For-Profit (NFP) market, a move that launches its SaaS acquisition strategy and increases its market expansion in this new vertical.
The acquired venture capital-financed company has provided software solutions to the NFP space for over 10 years and has more than 100 customers, including approximately 1,500 seats. Its customers can automate constituent communications and development, member services, constituent-to-constituent collaboration, ERP, CRM, financial management, transaction processing and e-commerce from a single platform.
The acquisition also is expected to generate new cross-selling opportunities for CDC MarketFirst and CDC Respond which will extend the acquired company's product functionality into the areas of marketing automation, lead management and complaint and feedback management.
The acquisition is expected to close in the fourth quarter of 2009, subject to the completion of customary due diligence and closing conditions.
Keywords: enterprise software software CDC Software Software as a Service CDCS M&A
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