Ufida eyes M&As in 4 sectors to expand
By Zhu Shenshen |
March 25, 2010, Thursday
|
Print Edition
Print Edition
UFIDA Software Co will expand its market share in China through mergers and acquisitions in the next two or three years in four industry segments, the firm said yesterday.
Shanghai-listed Ufida, the biggest enterprise software vendor in China, is seeking M&A opportunities in IT firms which provide services for the automobile, finance, retail and medical industries, said Li You, Ufida's senior vice president.
"We should consolidate our leading market position and expand market share to become strong enough to withstand international competition," said Li.
Ufida was the country's biggest ERP (enterprise resource planning) software vendor with a 27 percent share of the market in 2009, which widened the gap between the firm and rivals like Kingdee, according to CCID Consulting, a Beijing-based research firm.
The Beijing-based company also plans to expand market share in the state-owned IT services market, Li added.
In 2009, it spent 132 million yuan (US$19.41 million) to purchase Beijing Space Time Science & Technology Co Ltd, two firms based in Guangzhou and 11 other software developers. By the end of last year, it had 1.62 billion yuan in cash or cash equivalent, a 50 percent increase over the figure in 2008.
Ufida has an ambitious goal to become a "first class" software vendor within three or five years to directly compete with international giants like Oracle and SAP, Chairman Wang Wenjing said during a previous interview.
Ufida was rated "Buy" thanks to its "three-year expansion plan" in the state-owned and medical sectors, according to a Citic Securities note posted on Tuesday.
Shanghai-listed Ufida, the biggest enterprise software vendor in China, is seeking M&A opportunities in IT firms which provide services for the automobile, finance, retail and medical industries, said Li You, Ufida's senior vice president.
"We should consolidate our leading market position and expand market share to become strong enough to withstand international competition," said Li.
Ufida was the country's biggest ERP (enterprise resource planning) software vendor with a 27 percent share of the market in 2009, which widened the gap between the firm and rivals like Kingdee, according to CCID Consulting, a Beijing-based research firm.
The Beijing-based company also plans to expand market share in the state-owned IT services market, Li added.
In 2009, it spent 132 million yuan (US$19.41 million) to purchase Beijing Space Time Science & Technology Co Ltd, two firms based in Guangzhou and 11 other software developers. By the end of last year, it had 1.62 billion yuan in cash or cash equivalent, a 50 percent increase over the figure in 2008.
Ufida has an ambitious goal to become a "first class" software vendor within three or five years to directly compete with international giants like Oracle and SAP, Chairman Wang Wenjing said during a previous interview.
Ufida was rated "Buy" thanks to its "three-year expansion plan" in the state-owned and medical sectors, according to a Citic Securities note posted on Tuesday.
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