CDC Software hopes to quadruple income from China

Published: 22 Sep 2009 02:27:18 PST

SHANGHAI, Sept 22 - Chinese software developer CDC Software said on Tuesday it is looking to raise domestic sales to $100 million from $25 million in three to four years, making China its second-largest market after the United States.

CDC Software, which develops enterprise software and online games and is a unit of CDC Corp, recently bought a 51 percent stake in another software developer Beijing Hejia Software Technology. CDC Software declined to comment on the purchase amount.

"The $100 million will be from software and service sales from China," said Sean Yu, CDC Software's head of the Greater China region, at a press conference.

CDC Software, which listed in early August, said it made $250 million in revenue in 2008. Its top market is the United States, followed by Europe.

CDC Software competes with SAP AG the world's biggest business software firm, and Oracle Corp.