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December 18, 2006

SunGard buys Chinese software developer

The Asia-Pacific arm of US-based technology services firm SunGard Data Systems Inc has acquired Fudan Kingstar Computer Co for an undisclosed sum to beef up its credentials in key vertical sectors.

By CBR Staff Writer

The two companies, which are headquartered in Shanghai, will jointly target the financial services, higher education and public sector.

Kingstar has been developing localized business applications for the Chinese market for 10 years and employs around 500 staff.

The company will strengthen SunGard Asia Pacific’s offerings in the brokerage services space. Kingstar’s application suite includes applications for exchange management, futures and securities trading, gold trading, and brokerage management.

The company also develops data warehousing and smartcard products for higher education institutions.

SunGard also adds 400-odd Kingstar clients to its customer base in China, including four of China’s five biggest financial services firms.

The terms of the deal are not expected to have a material impact on SunGard’s financial results.

SunGard, which is headquartered in Wayne, Pennsylvania, is a $4bn US concern and serves more than 2,500 customers worldwide. The company has a core competency in developing and implementing software processing solutions for financial services and public sector firms.

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