SunGard today announced that it has acquired Shanghai Fudan Kingstar Computer Co., Ltd (“Kingstar”), a leading provider of software and processing solutions for China’s financial services, higher education and the public sector. Kingstar will help SunGard expand its product offering and business operations in China. For purposes of U.S. securities laws, the transaction is not expected to have a material impact on SunGard’s financial results.
Kingstar provides a suite of solutions developed specifically for China. It has a focus on financial services solutions for exchange management, futures trading, securities trading, gold trading, brokerage management, data warehousing, and campus and smartcard solutions for higher education. Kingstar has operated in China for over 10 years and has more than 500 dedicated professionals.
Zhou Hua, president of SunGard’s Kingstar business unit, said, “As China continues to grow, the financial services industry will look to increase its range of products and services as well as expand internationally. With more than 400 customers in China, Kingstar has developed a strong understanding of the domestic industry.”
John Wilson, president of SunGard’s Asia-Pacific business, said, “SunGard offers global experience and one of the broadest portfolios of best-of-breed technology solutions for the financial services industry. The combined strengths of the two companies will help SunGard Kingstar deepen its relationships in China and offer local knowledge, proven solutions and global expertise.”
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