Rumor: Alibaba to Invest in Financial Software Developer Hundsun

Tencent Tech, 12/11/12

Hangzhou-based financial software and online service provider Hundsun Technologies (600570.SH) suspended share trading on December 3 pending a major announcement, reportedly that the company has obtained USD 500 mln in investment from Chinese e-commerce conglomerate Alibaba Group. The two companies will cooperate on financial support, international data exchange, and IT backend security, according to an industry source. Alibaba Group declined to comment on the rumors.

Editor's Note: Established in February 1995, Hundsun Technologies is engaged in developing industry applications software and solutions for the financial, securities, banking, futures, and asset management sectors as well as supplying communications, computer telephony integration, e-commerce, and software outsourcing solutions. Hundsun Technologies' national service network covers 28 major cities, alongside subsidiaries in Japan and the United States.

Keywords: M&A e-commerce investment software software outsourcing applications software Hundsun 600570.SH Alibaba Group

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