Ufida to keep buying firms

The China’s biggest business software vendor said that Ufida Software Co will continue to expand through mergers and acquisitions, after spending 500 million yuan (US$73.5 million) on mergers and acquisitions last year, even during the financial crisis.
Wang Wenjing, Ufida’s chairman and president said the Beijing-based Ufida aims to recruit 1,000 new employees by the end of this year and establish more branches in western China.It was the tough time of the economy but we have seen a huge opportunity now. We have to expand then we will win when the economy recovers. We won’t stop and mergers and acquisitions will become the company’s major development strategy within several years.
Last year Ufida spent about 500 million yuan to purchase five firms, its biggest spend on acquisitions since it was founded in 1988. Ufida will expand into the high-end enterprise software market sector to better compete with overseas giants like SAP and Oracle.
Ufida now has 3,000 to 4,000 big clients and attracts several hundred new ones annually. About 20 giant firms have adopted Ufida’s NC or U9 products to replace previously used overseas products, Wang said. Ufida has the advantage over overseas firms because it better understands local clients and advanced technology, Wang added.
Fan Gang, director of the National Economic Research Institute said “China’s top firms have realized the importance of IT infrastructure during the financial crisis and that has brought opportunities for firms like Ufida.”
Ufida will recruit 1,000 people in the second half, about 11 percent of total staff numbers now. It will establish 16 branch offices in small cities by the end of this year.
This news is from China electronics manufacturer.

Inquire Now