Alibaba.com has signed an acquisition agreement with its parent company Alibaba Group to invest CNY208 million in the acquisition of the business management software division of Alisoft, the wholly-owned software subsidiary of Alibaba Group.

The transaction, which is expected to be completed by September 1, 2009, will cover Alisoft's application software product line for small-sized enterprises and the related assets, client contracts, and employees.

Of the total CNY208 million, CNY193.4 million will be paid in cash on the completion of the acquisition and CNY14.56 million will be offered as restricted stock awards to the transferred employees of Alisoft.

The report published by Alibaba.com shows that the company will take over contracts with total value of CNY19.62 million.

Alibaba.com said it will leverage its sales and marketing organization to increase the sale of Alisoft's customer relationship management and marketing software for exporters and small businesses engaged in domestic trade.

LEAVE A REPLY

Please enter your comment!
Please enter your name here