Kingdee International to form Alliance with IBM
IBM and Lehman Brothers are investing in Kingdee International with total investment amount of HK$ 132,000,000 for acquiring approximately 7.7% of the issued share capital of Kingdee International. Meanwhile, IBM and Kingdee International will form a global alliance to enhance the competitiveness of their clients in China and global markets, and help Kingdee International to become an international company and truly global software provider.
(4 Jun, 2007,
IBM and Lehman Brothers entered into a business alliance last year with the aim to jointly invest in Chinese enterprises. This business alliance has been described and branded as “The China Investment Fund”.? The transaction is not only the first major investment by this alliance, but also a milestone of Kingdee International in the international capital market after its listing on the Growth Enterprise Market in Hong Kong (2001) and on the Main board in Hong Kong (2005). Also, Kingdee International and IBM have signed a MOU on global collaboration, mainly on various aspects like the globalization and SOA, marketing/sales/channels/customers, consultation and application management services (AMS), Software as a service (SaaS) and etc. Kingdee International and IBM will set up a management committee responsible for implementation and monitoring the progress of the above mentioned cooperation plans.
Talking about the introduction of international investors, Mr. Xu Shao Chun, Chairman of Kingdee, said, ‘The global software industry is undergoing a revolutionary change. Only those who can capture the market trends will stand out in the market. The introduction of IBM and Lehman Brothers’ investment and further collaboration with IBM will help Kingdee International to consolidate the advantages of every party and ride on the trends of software services and tailor made software. It further enhances Kingdee International’s corporate governance and speed up the progress of Kingdee International to go into the global market. It ultimately enhances the competitiveness of both parties’ clients in
Mr. Henry Chow, Chairman of IBM Greater
Lehman Brothers has been a pioneer among global investment banks since establishing its presence in
Mr. Charles P. Wu, Managing Partner of The China Investment Fund and Vice President of IBM Greater China Group was satisfied with the success of this collaboration. He said, ‘The collaboration with Kingdee International through the ”China Investment Fund” business alliance is a new business strategy of IBM in