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).