Chinese software developer Kingdee has acquired Shenzhen-based ERP manufacturer Godline for CNY10 million.
Xu Shaochun, president of Kingdee, says Godline's brand will be abolished and its general manager Chen Xiaoqiang may join Kingdee and be responsible for its overall product planning and marketing services.
Xu says that his company will make full use of its advantage in capital and as a listed company to increase acquisitions of medium and small ERP manufacturers both at home and abroad to become a leader in the ERP market in the Asia Pacific region.
Kingdee's business has been gaining momentum since it was listed in Hong Kong in July 2005. The company's 2005 fiscal report shows that its business income reached CNY530 million in 2005, an increase of 19% compared with the same period of the previous year. Net profit increased by 40%.
Shenzhen Godline was started in 1997 and mainly specializes in ERP product development, promotion and service.