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Langchao Focuses On ERP; Avoids Microsoft Rumors
July 13, 2005 |
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Gao Chuangui, VP of Langchao Tong Ruan, says Langchao will completely devote itself to Enterprise Resource Planning (ERP) software this year.
In statements made to local media he also refused to answer questions about a possible buyout by Microsoft.
Langchao has recently won many large ERP orders in Shanghai, including orders from China Pacific Insurance and Shanghai Pudong Development Bank.
Langchao published a notice earlier this week stating that it had signed an MOU with Microsoft on July 30 and the latter may invest $25 million into Langchao by buying the company's new bonds. Following the announcement, Langchao's domestic stock price has been on the rise in the past days–it even increased by 100% in June.
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