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CDC Software Acquires Controlling Stake In Chinese ERP Firm
March 5, 2008 |
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CDC Software, a wholly owned subsidiary of CDC Corporation (CHINA), has signed an agreement to acquire a 51% stake in Integrated Solutions Limited, a Hong Kong-based vendor of ERP systems designed for small and medium-sized discrete manufacturers in China, for an undisclosed sum.
"We are very happy to soon join the CDC Software family," said Hilton Law, CEO of Integrated Solutions Limited. "Acquired companies have been flourishing under the CDC Software umbrella and we believe we are another great fit for their 'acquire, focus and grow' strategy. Together, we will build on the ISL foundation and pursue new geographies with the goal of achieving the same success, on a much broader scale, as we have already achieved in southern China."
Founded in 1985, ISL provides complete ERP solutions designed to address the needs of small and medium-sized discrete manufacturers in the electronics, toy, watch and furniture industries in China. ISL has more than 150 customers in southern China, including Ansen Electronics, Artfield Manufacturing, Verint Systems, Unilux Time, and Kendy Enterprise.
The parties expect to complete the transaction by the end of March 2008.
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