2009-05-22 Beijing
UFIDA Software announced that the company will acquire Chongqing MIT Technology, a leading product lifecycle management software provider in China, for RMB6.9 million (approx. US$1 million). The acquisition will include tangibles and intangible assets, existing products and accounts receivable of Chongqing MIT Technology. As of 31 December 2008, Chongqing MIT Technology had assets totaling RMB3.1 million (approx. US$454,000).
In recent year, China’s software industry has grown into one of the fastest growing sectors in the country, with an annual growth rate of over 30 percent. Many favorable factors brought about by the financial crisis have provided new opportunities for Chinese software enterprises although the crisis has had a negative impact on the operation of these enterprises. To weather the financial turmoil, the Chinese government has put in place policies to boost domestic demand and increase investment in infrastructure, which would bring new opportunities to enterprises specializing in the deployment of management software for the telecom, communication and medical sectors. In addition, the global financial crisis has created a chance for the country’s industrial structure adjustment and industry upgrade.
CDC Software, a wholly-owned subsidiary of CDC Corporation and a provider of industry-specific enterprise software applications and business services, recently announced it has signed a binding term sheet to acquire Informance International, in exchange for shares of CDC Software. The acquisition is subject to several customary closing conditions, including the execution of definitive documentation related to the acquisition, the receipt of all requisite approvals and consents, and the satisfactory completion of due diligence by CDC Software.
2009-05-12 Beijing
The global financial crisis brought a significant negative impact on China’s IT industry. However, the industry still has a positive outlook due to four major favorable factors such as booming online game industry, large-scale investment in 3G sector and an increase in mergers and acquisitions.
2009-04-22 Shenyang
Jinzhou, Liaoning province’s software industry continued to adjust its industrial and product structures to weather the global financial crisis, posting a steady growth in economic benefit. As of the end of March, the city delivered accumulated core business revenue of RMB67.8 million (approx US$9.92 million) in software industry, a year-over-year increase of eight percent. Of the total, RMB3.60 million were from the software and information sector, up 67 percent from a year earlier.
2009-03-30 Beijing
China's software industry generated a combined RMB126 billion (approx US$18.4 billion) in revenues during the first two months of 2009, up 20.8 percent from a year earlier. Software exports totaled US$1.98 billion, a year-on-year increase of 34.7 percent, while exports of software outsourcing services grew 53.4 percent to US$220 million. Data show that China is now home to 15,244 software companies.
2009-03-12 Beijing
IBM Software Group Greater China General Manager Bete Demeke said that IBM will enhance its investment and expansion in China this year. The company plans to establish regional software growth centers in six cities including Jinan, Shenyang, Wuhan and Nanjing. IBM Software Group has 7,000 customers in China.
2009-03-02 Nanjing
Nanjing’s software industry posted sales of US$6.88 billion in 2008, an increase of 30 percent over a year ago. In addition, the city won software outsourcing contracts valued at US$800 million, ranking fourth among all cities across the country.
2009-02-18 Beijing
According to data from the Ministry of Industry and Information Technology of China, China’s exports of software products recorded a year-on-year increase of 39 percent to US$14.2 billion in 2008. Exports of software outsourcing services in the country totaled US1.59 billion, an increase of 54.3 percent from a year earlier.
2009-01-23 Chengdu
Sichuan Changhong said in announcement on 17 January that IBM has bought a stake in Sichuan Changhong for approx. RMB108 million (US$15.8 million). IBM bought a 1.56 percent stake from Changhong Group, Sichuan Changhong's biggest shareholder, which saw its shareholding reduced to 29.08 percent from previous 30.64 percent.
