Beijing Tian Yuan and Guangzhou-based Guangda have recently assisted in the largest acquisition in the domestic management software industry to date. Shanghai-listed UFIDA, a major provider of management software solutions, has recently acquired a 99% stake in Infoservice Information Technology, while its Jiangxi subsidiary obtains the remaining 1%, for a total of US$72m.

The acquisition marks UFIDA’s first break into the automobile software market, and also sets its largest acquisition amount ever. Established in Shanghai in 2003, Infoservice is principally engaged in the design, research and implementation of application software for the automobile industry.

In recent years, UFIDA has been actively growing its business and expanding into new markets through M&A. Since 2008, UFIDA has made more than ten acquisitions, including companies TurboCRM, Hengju and Shanghai Greenchem, with a total deal value of over RMB1bn.

In a statement released by UFIDA earlier this year, the company intends to speed up its M&A activity in TMT, finance, real estate and automobile sectors.

The company’s list of external legal counsels includes Beijing Union Best Partners and Tian Yuan Law Firm. The company has also previously worked with firms like Commerce & Finance, Zhong Lun and Chen and Co. ALB

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