Kingdee makes enterprise resource planning (ERP) software, which is used to manage many aspects of a business like inventory, expenses, manufacturing, logistics, and sales, techinasia.com reports. Its business model is similar to US-based Intuit, which develops financial and tax preparation software and related services for small businesses.
Kingdee claims to be the largest ERP software firm in China since 2006. Founded in 1993, more than 50 million subscribers across 4 million businesses use its services worldwide. Kingdee says it will put the money toward future potential acquisitions and working capital.
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