Key Developments For CDC Corporation
CDC Corporation (CHINA.O) (Nasdaq)
CDC Corporation Comments On Q4 2009 EBITDA Guidance-Conference Call
CDC Corporation announced that based on its recent cost-reduction strategy implemented over the last several quarters and its increased labor utilization rate, the Company expects to see continued EBITDA improvement for fourth quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report EBITDA of $8.38 million for the same period.
CDC Corporation's CDC Global Services Announces Technology Partnership With Tata Communications; Plans Expansion In BPO Operations-Business Standard
Business Standard reported that CDC Global Services, a wholly-owned subsidiary of CDC Corporation signed a letter of intent to use the hosted solutions of Tata Communications, under a technology partnership. This partnership is a part of the company's expansion of its BPO operations. As part of the partnership, CDC Global expects to use Tata's Instacc platform for its expanding contact certre business activities. CDC Global Services also plans future expansion in its BPO operations that may include China, Vietnam, Sri Lanka and other markets in Africa.
CDC Corporation's CDC Software Corporation Announces Filing Of Registration Statement For Initial Public Offering Of American Depositary
CDC Software Corporation, a wholly owned subsidiary of CDC Corporation announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) of American Depositary Shares (ADSs). Each ADS represents one Class A ordinary share of CDC Software and the estimated price for each ADS offered ranges from $11.00 to $13.00. A total of 4,800,000 ADSs of CDC Software will be offered for sale. Of this total, 4,000,000 ADSs will represent newly-issued Class A ordinary shares being offered for sale by CDC Software and 800,000 ADSs will represent Class A ordinary shares being offered for sale by CDC Software International Corporation (CDC Software International), a wholly owned subsidiary of CDC Corporation and the direct parent company of CDC Software. Proceeds to CDC Software from the ADSs sold in the offering are expected to be approximately $43.4 million, and the total proceeds are expected to be approximately $52.1 million, assuming an initial public offering price per ADS of $12.00, which is the midpoint of the estimated public offering price range, and after deducting underwriting commissions and any offering expenses payable by CDC Software or CDC Software International. CDC Software will not receive any of the proceeds from the sale of ADSs by CDC Software International.
CDC Corporation's CDC Software To Expand Its Compliance Solution Offerings Through Joint Venture With Softrax Corporation
CDC Software, a wholly owned subsidiary of CDC Corporation and a provider of industry-specific enterprise software applications and services, announced it plans to form a joint venture with Softrax Corporation, a provider of billing and revenue management solutions, that would expand CDC Software's compliance solution offerings. The joint venture, which is expected to be operational in the third quarter, plans to leverage CDC Software's global customer support and product engineering resources in India and China, and Softrax's deep domain and product expertise. The joint venture is expected to further expand CDC Software's compliance offerings and industry penetration, and to help Softrax accelerate its growth and geographic market expansion. CDC Software and Softrax expect to sell their respective solutions to each other's customer base, potentially opening new markets for CDC Software such as high tech, business services and many other industries which have critical revenue compliance requirements. It is also expected that CDC Software will sell their billing and revenue management solutions globally, and the companies are exploring opportunities to embed their technologies into each other's products to facilitate integration.
Toyota France Uses CDC Corporation's Pivotal CRM For Managing Sales Activity of Reseller Network
CDC Software, a wholly owned subsidiary of CDC Corporation announced that TOYOTA France has implemented Pivotal CRM at its nearly 300 reseller sites.
