Rumor: Alibaba to Purchase Hundsun Tehchnologies
TechWeb, 3/24/14
An industry source has revealed that Chinese e-commerce conglomerate Alibaba Group's finance arm is currently in talks to acquire Hengsheng Group, parent company of Hangzhou-based financial software and online service provider Hundsun Technologies (600570.SH). According to the source, Alibaba has completed preliminary due diligence, and both parties have signed exclusive agreements to further expand interactions.
Neither company has responded to the rumor.
Editor's Note: For more background on this topic, please see "Rumor: Alibaba to Invest in Financial Software Developer Hundsun" MD 12/11/12 issue.
Keywords: e-commerce software Hundsun 600570.SH Alibaba Group M&A financial services
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