(SHENZHEN, MARCH 03, 2010) Shenzhen-headquartered software veteran Kingdee International Software Group Co., Ltd. (SEHK: 0268) intends to expand its software turf in the market, with a plan to spend CNY 100 million acquiring four software companies in 2010, citing a media report.
Kingdee announced on March 2 that it had taken over Guangzhou ProWay Technology
Co., Ltd., a Guangzhou-based supplier of product life cycle management (PLM) software, at a cost of CNY 21 million.
Kingdee will make use of the takeover to master the PLM technology and hold related talents, a necessary push to its expansion, said Chen Dengkun, vice president of Kingdee.
Kingdee will consider software acquisitions as quick response to changing consumers in a bid to meet their different needs, it pointed out. It will expand deeply in the software field.
Established in 2002, ProWay Technology has grown into a mainstream PLM brand in south China, with more than 300 clients. Its PLM services have extended to a long list of sectors such as electronics, home appliance, automobile, precision instrument, electromechanical, shipbuilding, communications, hardware, and furniture.