Growth Enterprise Market-listed Kingdee International Software Group said it would use the acquisition of an enterprise resources planning software developer to boost its presence in northern China.
Kingdee chairman Xu Shaochun said the acquisition of Beijing Case Software Technology would help the company increase sales to large- and medium-sized enterprises in the north.
Kingdee, which has a clientele comprising mainly small- and medium-sized firms, hopes to attract more large companies, Mr Xu said.
Last week, Kingdee bought a 90 per cent stake in Beijing Case for 13.5 million yuan (about HK$12.6 million) from TCL Industries, the parent of Hong Kong mainboard-listed television-maker TCL International Holdings.
Kingdee said it would pay half cash and half shares for the company.
The deal would also allow TCL Industries to focus on businesses where it has a competitive edge, said TCL Holdings president Tomson Li Dongsheng.
TCL Holdings is the Huizhou-based, ultimate parent of TCL International.