Zoyi Capital has completed a $20 million investment in Camelot Information Systems, a provider of enterprise application services and financial industry information technology services in China. This follows the announcement by Camelot in September last year that it had entered into a merger agreement for a going private transaction.
Zoyi Capital has completed its US$20 million investment last Friday, March 28, in Camelot Information Systems Inc. (NYSE: CIS), a leading provider of enterprise application services and financial industry information technology services in China. This follows the announcement by Camelot in September last year that it had entered into a merger agreement for a going private transaction.
Camelot is the largest domestic provider of SAP-based Enterprise Resource Planning services in China and also ranks first in several types of solutions, including teller systems and IT testing, to the financial IT services market. The company has developed a large talent pool of SAP-based ERP consultants, and has long term relationships with many blue-chip customers.
“With this investment, we are excited to increase Zoyi Capital’s footprint in the Chinese IT services sector. We believe as a broad-based player that provides various solutions to customers in a wide range of verticals, Camelot is well positioned to capture the secular growth opportunity in China’s large and underpenetrated IT services market” said Andrew Kuo, Founding Partner and CEO of Zoyi Capital.
Zoyi Capital has a long relationship with Camelot’s Chairman, President and CFO, dating back to 2006, which led to early discussions between the two parties to partner together on the take private of Camelot.
“We look forward to benefiting from Zoyi’s experiences and network in the financial industry in China. This partnership will strengthen our financial expertise and allow us to deliver better services and solutions that meet the constantly evolving IT needs of the enterprises and banks in China” said Simon Ma, Chairman and CEO of Camelot.
For more information, please contact:
Andrew Kuo, Founding Partner & CEO of Zoyi Capital
Telephone: + 886 2 7707 9286
Simon Ma, Chairman and CEO of Camelot Information Systems
About Camelot Information Systems
Founded in 1994, Camelot is a leading domestic provider of enterprise application services and financial industry information technology services in China. The Company is the largest domestic provider of SAP-based Enterprise Resource Planning services in China and provides services to a wide range of industries including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education.
About Zoyi Capital
Zoyi Capital is a Greater China focused fund, investing in segment-leading mid-cap companies with a proven history in the China and Taiwan markets. Zoyi Capital targets proprietarily sourced investments with a preference for buyout or significant minority positions and an emphasis on providing value-add support. The Zoyi Capital team has a long and successful track record in Greater China and is highly respected in the local business community. The Founding Partners of Zoyi Capital are Andrew Kuo, previously Vice Chairman of Blackstone Greater China, Pei-Pei Yu, previously Managing Director of Goldman Sachs PIA Asia and Eric Chen, previously President of North Asia and Greater China at Fullerton Financial, a subsidiary of Temasek.