Acquisition

 

TIDMSFT 
 
RNS Number : 6562W 
Sinosoft Technology plc 
31 July 2009 
 

31 July 2009 
 
 
SINOSOFT TECHNOLOGY PLC - "SINOSOFT" OR THE "COMPANY" 
ACQUISITION OF SOFTWARE COMPANY TO AID DOMESTIC EXPANSION PLANS 
 
 
Sinosoft, the China-based developer and provider of software and IT solutions to 
Chinese regional and national government agencies and export enterprises, is 
pleased to announce the acquisition of Jiangsu SkyInformation Co., Ltd. 
("SkyInformation") a China based software company for a cash consideration of 
RMB4.7 million (c. GBP420,000). The consideration is payable in two 
installments; one on 10 August 2009 and a second payment on 31 January 2010. 
SkyInformation was founded in 2005 to focus on software coding research and has 
two software copyrights. Sinosoft will be able to use SkyInformation's software 
license to further develop new products and apply for the corresponding 
government grants that are available to Chinese registered companies.  The 
Company is hopeful that following the acquisition of SkyInformation the enlarged 
group will immediately be better placed to win government mandates that were 
otherwise not eligible to foreign invested companies such as Nanjing Skytech and 
Nanjing Software. 
Ms Xin, Chief Executive of Sinosoft, commented: "This acquisition is the ideal 
catalyst for our stated aim of expanding Sinosoft's successful government 
outsourcing business across China. The management feel that now is the right 
time in the economic cycle to make this purchase and we are fully focused on 
maximising the opportunity" 
-Ends- 
For further information, please contact: 
Sinosoft Technology plc 
Yifa Yu, Finance Director 
[e-mail] 
 
 
Hanson Westhouse Limited     Tavistock Communications 
Tim Metcalfe/Richard Baty       Simon Compton 
020 7601 6100                020 7920 3150 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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