CDC Software to acquire 51 pct stake in Vitova
Shanghai. January 14. INTERFAX-CHINA - Nasdaq-listed enterprise software solutions provider, CDC Software Corp. will acquire a 51 percent stake in Hong Kong-based VITOVA Ltd., CDC announced on Jan. 13.
CDC Software will pay an undisclosed amount to acquire the VITOVA shares, placing it in a prime position to later to acquire VITOVA's Beijing-based affiliate, UNIS VITOVA, a provider ofrecord management software, the announcement said.
CDC stated that it has increased its focus in China and that the acquisition is part of its strategy to expand into emerging markets.
CDC Software has more than 6,000 clients worldwide, mainly from within the manufacturing, financial services, health care, home building, real estate, wholesale and retail distribution industries.
VITOVA is a content management solutions provider. Upon completion of the acquisition, VITOVA products and solutions will be sold under CDC Software brand.
-HJL