Sungard has acquired Chinese software and services company Shanghai Fudan Kingstar Computer Co.
Kingstar 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, which has operated in China for over 10 years and has more than 500 staff, serves more than 400 customers, including four of China’s five largest banks and five financial exchanges.
Zhou Hua, president of SunGard’s Kingstar business unit, says: "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, says Kingstar will help SunGard expand its product offering and business operations in China.
Financial details of the transaction have not been disclosed. It is not expected to have a material impact on SunGard’s financial results.