Manaccom to acquire Star System Solutions
Manaccom Corp Ltd is acquiring Star System Solutions Pty Ltd (Australia), an accounting and project management software developer. Star Projects provides large enterprises with job costing software capable of working with large enterprise accounting systems. Recurring revenue from large customers accounts for 49 percent of its revenue. The acquisition of Star System Solutions will strengthen Manaccoms’ software division by providing a balanced mix of retail and enterprise software sales. The buy will also move it up the supply chain from software reseller to IP ownership.
Announcement Date: October 28, 2008
Deal Value: $2.2 Million (Cash on average annual earnings of $1 million a year)
UFIDA Software to acquire Founder Chunyuan
UFIDA Software Co Ltd agreed to acquire the entire share capital of Beijing Founder Chunyuan Technology Development Co Ltd, a software developer, from Investor Yang Ying (39.71%), Founder Investment Ltd (25%) and 17 other individuals. Founder Chunyuan provides enterprise resource planning, supply chain management, customer relationship management and business intelligence software to businesses in China.
Announcement Date: October 28, 2008
Deal Value: $56 Million (Cash on $14.9 million ttm)