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UFIDA eyes M&A on rising profits

By Wang Xing (chinadaily.con.cn)
Updated: 2009-03-23 11:16

UFIDA Software, one of China's largest software companies, said its profit in the last year increased 20.7 percent to 468 million yuan ($68.54 million).

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UFIDA said its revenue in 2008 surged 27.18 percent to 1.73 billion yuan, although the economic slowdown reduced enterprises' IT investments in the fourth quarter. The company said it will seek merger and acquisition opportunities this year and will continue to expand its software park.