Ufida: Establish a joint venture with Atos to develop the cloud computing market

With Atos set up joint venture company Yuhttp://www.aliyun.com/zixun/aggregation/19512.html ">nano, open up overseas market, test water cloud computing business."

According to Tencent Technology November 8, Ufidainternationalholdings (company subsidiary) and Atos's subsidiaries jointly funded 5.7 million euros to form a joint venture Yunano open up Europe, the Middle East, Africa and China's cloud computing market, of which Atos accounted for 70% of shares, Ufida accounted for 30%, the new company is headquartered in France.

To Ufida: fast access to overseas markets, strengthen technological innovation and cooperation.

Atos is an internationally renowned IT service provider, is the main data center provider, in the global customer base is abundant. Through joint ventures, we believe that Ufida can quickly enter the European, Middle East and African markets, while the company based on cloud platform ERP software will be integrated with the Atos Data Center innovation, to provide customers with secure online software services.

For Atos: Strengthening the Atos Asian development Strategy.

Ufida is China's largest management software provider, with 120多万家 customers. Atos has always wanted to open up the Chinese market and share the opportunities for growth in the Chinese market. Through joint ventures, we believe that Atos will enhance its development strategy in Asia, especially China, and provide users with richer cloud services.

Valuation: Reaffirm the "buy" rating, a slight reduction in target prices to 29 yuan.

According to the company's three quarterly results, we slightly reduced the company 2011/2012/2013 annual EPS forecast to 0.74/1.14/1.58 yuan (originally 0.80/1.18/1.64 yuan). Reference industry comparable to the company's 2012 P/E ratio, we gave its 2012 25 times multiples, the target price of 29 yuan (originally 29.4 yuan).

(Responsible editor: The good of the Legacy)