NU Online News Service, April 29, 9:49 a.m. EDT
Xiamen, China-based technology provider Longtop Financial Technologies Ltd. (LFT) said it will acquire Sysnet Info-tech Corp., a major provider of information technology to China's insurance industry.
The firm said it would be a cash transaction but provided no other details other than saying the deal is expected to close before June 30.
Founded in 1994, Sysnet provides comprehensive, customized information technology solutions and services for major property and life insurance companies. The company also offers enterprise annuity management, marketing and customer relations management, business intelligence as well as management information solutions.
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