Kingdee Acquires 82% Stake in Wisetop

Hong Kong Exchanges and Clearing, 8/01/11

Chinese enterprise management software developer Kingdee International Software Group (0268.HK) has announced that it has signed an agreement to acquire an 82% stake in Chinese medical information system provider Guangzhou Wisetop Computer through its indirect wholly-owned subsidiary Shanghai Kingdee Medical Software.

Kingdee will purchase a 75% equity interest in Guangzhou Wisetop Computer for RMB 120 mln, in which about RMB 46 mln will be subject to adjustment with reference to the net profit target to be completed by Wisetop in the years 2011 and 2012. Kingdee will then further inject RMB 30 mln and RMB 26 mln, in the respective forms of cash and non-cash consideration, bringing Kingdee's stake in Wisetop to 81.48%.

Keywords: healthcare computer profit software Kingdee International Software 0268.HK M&A enterprise software Wisetop

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