ChinaVirtuoso

Kingdee International Software Group and JD.com announced an agreement in which JD will invest HKD1.3 billion in cash to acquire about a 10% stake in Kingdee.

Meanwhile, the two parties plan to form a strategic partnership to provide small- and medium-sized enterprises with ERP integrated solutions based on cloud computing services.

Xu Shaochun, chairman and chief executive officer of Kingdee, said the two parties will integrate their enterprise customer and user resources to develop e-commerce and warehouse logistics solutions and accelerate Kingdee's cloud service business development.

Liu Qiangdong, chief executive officer of JD, said that they hope to further combine JD's e-commerce and logistics IT solutions with Kingdee's ERP solutions and move the combined solutions to an enterprise cloud platform. With this move, the two parties aim to better meet the growing demands for enterprise solutions in the Chinese market.

JD will purchase Kingdee shares at HKD4.6 per share. The deal is expected to close in the second quarter of 2015.

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