Pillsbury Winthrop recently announced its involvement in the facilitation of a joint venture between Symphony Technology Group of Palo Alto and chinadotcom corporation and its wholly-owned subsidiary, chinadotcom Capital Limited.
Symphony Technology Group is an enterprise software investment firm offering a blend of technology, venture funding, partnering, marketing, and corporate finance expertise. chinadotcom corporation is an integrated enterprise solutions and software company offering technology, marketing, mobile and media services for companies throughout greater China and the Asia-Pacific region, the United States and the United Kingdom.
chinadotcom Capital Limited acquired a 51 per cent interest in a holding company which owns 100 per cent of Industri-Matematik International Corporation (IMI), a leading provider of supply chain management solutions in the United States and Europe. As part of the transaction, chinadotcom Capital Limited invested US$25 ($36) million in the holding company and agreed to finance two loan facilities up to a further US$25 ($36) million. The holding company will use the funds primarily for further expansion in the supply chain management software sector via acquisitions, strategic investments and organic growth. Additional terms of the transaction designate chinadotcom Capital Limited as the master distributor for IMI’s software products in China as well as an outsourcing partner for IMI.