UFIDA to Acquire Auto Software Firm for RMB 491 Mln

China Securities Journal, 6/18/10

Chinese enterprise management software developer UFIDA (600588.SH) has announced in a public filing that it plans to purchase a 99% stake in auto software maker Infoservice for RMB 486.09 mln; UFIDA's wholly owned subsidiary Jiangxi UFIDA will purchase the remaining 1% stake for RMB 4.91 mln, for a total expenditure of RMB 491 mln. UFIDA will sign a stock transfer agreement with Infoservice's shareholders in the near future.

UFIDA VP Zheng Yulin said that the company considered the acquisition price reasonable, as Infoservice is a leader in informatization efforts in the automotive industry and has solid growth potential. In the future, Zheng said, UFIDA may consider acquiring makers of management software for the distribution, retail, or small- to medium-size commercial banking industries.

Editor's Note: For more background on this topic, please see "UFIDA to Acquire Auto Software Firm" MD 6/09/10 issue.

Keywords: Zheng Yulin software UFIDA 600588.SH Infoservice M&A enterprise software

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