CDC Software acquires 10% stake in CMT Latin America
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[July 26, 2006]

CDC Software acquires 10% stake in CMT Latin America

(BNamericas.com Via Thomson Dialog NewsEdge) Enterprise applications provider CDC Software, a fully-owned subsidiary of Chinese giant CDC Corporation (NASDAQ: CHINA) has acquired a 10% stake in Argentine software distributor CMT Latin America, newspaper Infobae reported.



This operation represents the first investment of a Chinese firm in the Argentine software market, Infobae reported.

CMT recently entered the franchise partner program of CDC Software and under the terms of this agreement CDC has an option to acquire a further 9.9% in CMT in the future.



CMT will receive funding to support marketing and sales activities in Latin American countries such as Argentina, Chile, Brazil and Mexico.

"The possibility of this expansion, including Pivotal products and the financing of CDC Software will allow us to become more competitive in our business and lead the Latin American market," Infobae quoted CMT Latin America president Daniel Altamonte as saying.

CMT Latin America, a distributor of CDC's Pivotal CRM product line, has represented CDC Software in the region for over eight years expanding CDC's presence to Argentina, Chile, Brazil and Mexico.

CMT will also start selling CDC Software's recently acquired c360 add-on products for Microsoft Dynamics CRM.

CMT's fiscal year 2005 revenues totaled US$1.5mn with the company forecasting nearly US$2mn in total sales for fiscal year 2006

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